New R&D Study Released and Legislative Bills Filed We are excited to announce the release of a new economic study titled “The Economic Effects of R&D Tax Incentives in Texas” by John W. Diamond, Ph.D., from Rice University’s Baker Institute. This study highlights the significant impact of extending the state’s research and development (R&D) tax credit, projecting the creation…

Comparison of Tax Relief Packages, 89th Legislature Both the House and Senate continue to work on their respective tax relief packages for this session, and neither has reached Governor Abbott’s $10 billion goal. The House package is estimated at $6.4 billion, and the Senate package $6.2 billion. Both the House and Senate budgets (HB 1 and…

In this issue Senate Passes Homestead Exemption Legislation Speaker Burrows Releases House Committee Assignments Senate Passes Homestead Exemption Legislation The Senate has passed SJR 2 and the enabling legislation SB 4, which combined increase the school district homestead exemption to $140,000 from $100,000. The proposition asking voters to approve the increase will be on the…

New updates regarding sales tax guidance, franchise tax guidance, non-profit sales tax guidance, and upcoming annual sales tax holiday dates. Sales Tax Guidance Private Letter Ruling (PLR): A catering app has been classified as a marketplace provider. PLR: Dealers processing warranty payments from customers are considered marketplace providers for warranties sold at their locations and are responsible…

Dear TTARA Members, Late last week, the Senate’s proposal to increase the school district homestead exemption to $140,000 was filed by Senator Bettencourt as SB 4 and SJR2. The measures have 29 co-authors. This morning, a hearing on SB 4/SJR 2 was scheduled for tomorrow, Tuesday, February 11, at 8:30a.m in the Senate Local Government Committee. The hearing notice is available here. TTARA will be providing testimony at the hearing. If you…