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…

Annual Meeting Presentations Now On-Line A special thanks to all those who attended our 2011 annual meeting this week!!! We are pleased to report a record attendance this year and look forward to an even more successful conference in 2012. Mark your calendars—we will be back at the Hyatt on October 15th and 16th ,2012 For…

November 3, 2011 Ways and Means Committee Meeting Wrap Up: Chapter 313 The House Ways and Means Committee met yesterday in its third meeting of the interim to take invited testimony on the property tax with a focus on the school tax limitation program authorized in Chapter 313 of the Tax Code. TTARA’s Dale Craymer…

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…

October 20, 2011 One More Challenge to the Constitutionality of the Franchise (Margin) Tax Yesterday, a second petition challenging the constitutionality of the reformed Franchise Tax was filed in the Supreme Court. It alleges: 1. Whether the Texas franchise tax violates the Equal and Uniform Clause of the Texas Constitution, either as applied or facially….