Governor Perry Offers Franchise Tax Relief Initiative Governor Perry this afternoon will unveil a four point plan to provide franchise tax relief: Reduction in current rates by 5%–reducing the 1 percent tax rate to 0.95 percent and the half percent tax rate on wholesalers and retailers to 0.475%.This will result in a savings to taxpayers…

Budget Progressing; Taxes Still a Question Mark Budget writers are moving closer to wrapping up their committee work and while the budget ball will be moved a bit further down the field, the end zone is still a long ways off. By tradition, this year the budget will be a Senate bill. The Senate Finance…

House Sets Debate on Supplemental Appropriations Bill The 2012-13 Budget passed by legislators last session appropriated substantially less for Medicaid than what forecasters anticipated would be required. While Medicaid is a state-managed program that receives a substantial amount of federal funds, in truth, the state has little latitude over funding decisions. Most of the cost…

February 12, 2013 TTARA has been invited to a meeting at the Comptroller’s Office this Friday, February 15, to discuss the Comptroller’s previously proposed revisions to rule 3.588 concerning margin: cost of goods sold (a copy of the proposal is available on TTARA’s website). The agency now believes their initial proposal requires modification, and has…

LBB Recommends Tax Changes For the past several years, the staff of the Legislative Budget Board prepare a Texas Government Effectiveness and Efficiency Report (GEER). Typically contained within the report are a handful of tax and fee recommendations that often range from meddlesome to troubling, and the 2013 edition does not disappoint. These proposals will…