TTARA Update on Comptroller’s Draft Rule 3.588 Concerning Cost of Goods Sold
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…
Read MoreSchool Finance System Unconstitutional on Equity, Adequacy, and State Property Tax
School Finance System Unconstitutional on Equity, Adequacy, and State Property Tax Travis County District Judge John Dietz issued a verbal ruling from the bench this afternoon declaring the school finance system unconstitutional. Judge Dietz stated that the system is inequitable, inadequate, and constitutes a de facto state property tax. He declined to rule on claims…
Read MoreTTARA Update From the Tax Front: Revenues, the Budget, and Tax Relief
February 1, 2013 Revenues, the Budget, and Tax Relief Comptroller Combs may have surprised lawmakers with a somewhat higher revenue estimate than many anticipated. The House and Senate had been working on slightly different budget packages, but both tallied well below the Comptroller’s estimate of available revenues—roughly $5.5 billion, or about 6 percent of discretionary…
Read MoreTTARA Update from the Tax Front
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…
Read MoreTTARA Conference Call on Draft Franchise Tax Rule 3.588 (Cost of Goods Sold)
TTARA Conference Call on Draft Franchise Tax Rule 3.588 (Cost of Goods Sold) The Comptroller’s office has issued a redraft of Franchise Tax Rule 3.588 (Cost of Goods Sold). The draft rule attempts to clear up confusion over labor includable as “cost of goods sold.” TTARA will host a conference call to discuss the draft…
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