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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 is one of the seven states of the United States with no personal state income tax. In addition, Texas does not allow any lower level of government (counties, cities, etc.) to impose an income tax. This means that, for the residents of Texas, the maximum rate of income taxation is the top rate set by the federal government.
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.
Parents can ease the burden by taking advantage of the Texas tax-free weekend Aug. 11-13. Back to school shopping season will be here before you know it. Parents can ease the burden by taking ...
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 ...
The annual Comptroller of Public Accounts sales tax exemption is Aug. 5-7, and includes items purchased with coupons as long as the price is under $100. ... Texas’ back-to-school shoppers can ...
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 ...
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 ...
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