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Ways and Means Committee Holds Lively Hearing on the Franchise Tax The House Ways and Means Committee yesterday held a wide ranging hearing on the revised franchise tax. After 5 years in effect, taxpayer concerns remain surprisingly high, prompting several of the committee members to endorse revamping at least certain aspects of the tax. James…

Say What? – Comptroller’s Revised Draft of Letter Ruling Rule Two months ago the Comptroller’s Office informally released the draft rule concerning the requirements for acquiring and restrictions on the use of letter rulings to evidence agency policy. (Link to 02/01 TTARA Update from the Tax Front) After the receipt of comments on the proposal,…

Judge Dietz Reverses Judge Dietz on Manufacturing Exemption Travis County District Judge John Dietz yesterday afternoon issued a much anticipated final judgmentin Southwest Royalties v. Combs, ruling in favor of the State and denying all requested sales tax refunds pursuant to the claim that machinery and equipment used to extract oil and gas qualifies for…

Southwest Royalties Reheard: Decision Pending Several weeks ago Travis County District Court Judge John Dietz issued a bench ruling in favor of the plaintiffs in Southwest Royalties v. Combs, deciding that the sales tax exemption for property used in manufacturing equipment (151.318) applied to certain oil and gas extraction activities. The Comptroller’s Office had provided…