� TTARA Franchise Tax Meeting January 11 in Austin With a final decision rendered in the Allcat case, the Supreme Court has ruled that the constitutional prohibition against a personal income tax does not apply to the franchise tax—a tax on business entities. The ruling gives the legislature broader latitude in considering possible modifications to…

TTARA Update from the Tax Front Texas Supreme Court: Franchise Tax Does Not Violate Bullock Amendment The Supreme Court today released its highly-anticipated decision, ruling that the Texas franchise, or “margin,” tax does not does not violate the Texas Constitution’s so-called “Bullock Amendment” that requires prior voter approval of “a tax on the net incomes…

Out of the Franchise Tax Labyrinth by Jennifer Patterson Rabb

Administrative Issues and the Franchise Tax by Scott Fischer

Supreme Court Holds Very Interactive Hearing on Franchise Tax Challenge This morning the Supreme Court heard oral arguments in the Allcat Claims Service petition alleging the reformed franchise (“margin”) tax violates what is popularly known as the “Bullock Amendment” [Art. VIII, Sec. 24(a)] of the Texas Constitution because it imposes a tax on a natural…