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The Texas Comptroller of Public Accounts is an executive branch position created by the Texas Constitution. The comptroller is popularly elected every four years, and is primarily tasked with collecting all state tax revenue and estimating the amount of revenue that the Texas Legislature can spend each biennium. The current comptroller is Glenn ...
Texas – no individual income tax but imposes a franchise tax on corporations. In May 2007, the legislature modified the franchise tax by enacting a modified gross margin tax on certain businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt as were ...
The secretary of state of Texas is one of the six members of the executive department of the State of Texas in the United States. Under the Constitution of Texas, the appointment is made by the governor of Texas, with confirmation by the Texas Senate . The officeholder is the chief elections officer, the protocol officer for state and ...
The IRS offers two free options for individuals to file their taxes. One is Guided Tax Preparation filing which is free to taxpayers who made $73,000 or less in 2022. The Guided Tax Preparation ...
May 16, 2024 at 8:03 PM. May 16—AUSTIN — Texas Comptroller Glenn Hegar is reminding families and businesses that they can save on the purchase of certain products during the state's Water ...
Franchise tax. A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of or capital held by the entity.
Texas’ cigarette tax is used for distributors, wholesalers, retailers and manufacturers with state representation. A conventional 20-cigarette package is taxed at $1.41 per pack, while a 25 ...
Texas is ranked as the 8th largest economy among nations of the world by nominal GDP, ahead of Canada, South Korea, Russia, and Australia. [13] In 2019, Texas had a median household income of $61,874. [14] As of August 31, 2022 Texas had a total of $64.40 billion in state debt outstanding, including both general obligation and revenue debt.