Tax Advisors Group

TAG It™ Business Personal Property System

Texas lawmakers begin wrangling over ways to kill off franchise tax

2017 January 24

texas-flag1Lynn Krebs, PhD, CMI, Director of Tax Advisors Group, notes that a number of recent articles and news out of Austin indicate that the Franchise Tax is Texas’ clear and present target to cut and eventually eliminate. In a recent article by Kimberly Reeves (see link below), Lt. Gov. Dan Patrick is quoted as saying that killing the Franchise Tax is one of his top goals. Patrick went on to say, “…we intend to cut it until it can eventually disappear, which will probably take four or five sessions…”  So, it appears that Texas’ dependence on other state and local taxes will be on the rise over the next 8 to 10 years.

To read the full article, click here.

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