Texas has the second-largest economy in the United States (after California), with a state gross domestic product (GDP) of $2.7 trillion in 2024 (the most recent full-year data available). Much of ...

If you own a business in Texas, you’ve likely encountered (for better or worse) the Texas franchise tax. The franchise tax is a tax imposed on any “taxable entity” that does business in Texas or that ...

Unlike many states, Texas does not impose a traditional corporate income tax. Instead, it levies a franchise tax, which is a type of gross receipts tax. This means that businesses are taxed based on ...

The calendar year 2024 will bring multiple changes to the Texas franchise tax. Taxpayers responsible for entities operating in Texas should be aware of these rules as they plan for their filing and ...

AUSTIN, Texas (AP) -- The Texas Supreme Court on Friday upheld the state's much-maligned business tax that provides the second-biggest source of general revenue, preserving current rules for now ...

Almost no one likes the Texas franchise tax — for good reason. The tax is what is called a margins tax, owing to a 2007 reform that made the tax more complex, less efficient and more unfair. The ...