Understanding the Texas Franchise–or “Margin” –Tax

Ways and Means Committee Meets (Again) The House Ways and Means Committee held its second meeting of the legislative interim this morning. Two items were on the agenda: 1) an overview of the state’s tax system by John Heleman, Chief Revenue Estimator for Comptroller Susan Combs, and 2) a review of current franchise tax exemptions…

New Year’s Eve in Texas One of the problems the legislature faced this past session was the prospect of a $4.3 billion deficit when the books closed on 2011. The projected deficit was reduced to zero through a combination of spending cuts and money from the state’s Rainy Day Fund. Thanks to a rebounding economy,…

Enoch Letter on Franchise Tax

McBee Letter on Franchise Tax