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However, Nevada, Ohio, and Washington impose a gross receipts tax while Texas has a franchise tax based on "taxable margin", generally defined as sales less either cost of goods sold less compensation, with complete exemption (no tax owed) for less than $1MM in annual earnings and gradually increasing to a maximum tax of 1% based on net revenue ...
The executive branch consists of the Governor, Lieutenant Governor, Comptroller of Public Accounts, Land Commissioner, Attorney General, Agriculture Commissioner, the three-member Texas Railroad Commission, the State Board of Education, and the Secretary of State.
The primary duty of the comptroller's office is to collect substantially all tax revenue owed to the State of Texas. This involves more than 60 different types of taxes from the sales tax (the largest source of the state's tax revenue, since Texas does not have a personal income tax ) to minor items such as the "battery sales fee" (a $2–$3 ...
The 2006 Texas gubernatorial election was held on November 7, 2006, to elect the Governor of Texas. The election was a rare five-way race, with incumbent Republican Governor Rick Perry running for re-election against Democrat Chris Bell and Independents Carole Keeton Strayhorn and Kinky Friedman , as well as Libertarian nominee James Werner.
Early life and education. McGraw was born in Vinita, Oklahoma, on September 1, 1950, the son of Joseph J. McGraw Jr. and his wife, Anne Geraldine "Jerry" (née Stevens). He grew up with two older sisters, Deana and Donna, and younger sister Brenda in the oilfields of North Texas where his father was an equipment supplier.
The state sales tax rate is 6.25 percent, but local taxing jurisdictions (cities, counties, special purpose districts, and transit authorities) may also impose sales and use tax up to 2 percent for a total maximum combined rate of 8.25 percent. Texas is a "tax donor state"; in 2005, for every dollar Texans paid to the federal government in ...
The state sales tax is set at 6.25 percent. Cities are allowed to impose an additional 1% tax, and additional taxes not to exceed 1% may be approved by voters for any combination of county sales tax, transportation districts, economic development, and/or crime prevention. The average sales tax in Texas amounts to 8.25 percent.
The gross tax gap is the amount of true tax liability that is not paid voluntarily and timely. For years 2008–2010, the estimated gross tax gap was $458 billion. The net tax gap is the gross tax gap less tax that will be subsequently collected, either paid voluntarily or as the result of IRS administrative and enforcement activities; it is ...