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Dallas Morning News / Law / Texas

Texas GOP lawmakers have dramatically different business tax plans

Big Tex at the State Fair of Texas.

My most recent article for The Dallas Morning News is about how Texas lawmakers plan on handling tax issues in the upcoming legislative session.

Lowering taxes is a common GOP policy goal, but the actual proposals differ dramatically.

The extremes:

  • State senator Jane Nelson (R-Flower Mound) filed a bill that would reduce the franchise tax rate by 2.5% per year if the state’s comptroller certifies there are available funds over the biennial revenue estimate.
  • State senator Craig Estes (R-Wichita Falls) filed a bill that calls for the complete repeal of the franchise tax in 2018.

These tax cut proposals are often styled as a way to help startups and small businesses (and ostensibly “create jobs”) but the current franchise tax exempts businesses with revenue under $1 million or franchise tax estimates under $1,000.

It remains to be see what, if anything will get passed this year.

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