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Taxes - Other

Texas does not impose a personal income tax.

Texas does not have a Corporate tax. However there is a Franchise Tax.

Franchise Tax State of Texas
  The Texas franchise tax is a privilege tax imposed on each taxable entity formed or organized in Texas or doing business in Texas.
Rate (Range) 0.75% for most entities 
0.375% for qualifying wholesalers and retailers
0.331% for entities with <= $20 million in Total Revenue electing the E-Z Computation
2016-2017 Rates: window.state.tx.us/taxinfo/franchise/rates
 
Formula 

Unless a taxable entity qualifies and elects to file using the E-Z Computation, the revised tax base is the taxable entity's margin. Margin equals the lowest of four calculations:

  • total revenue minus cost of goods sold;
  • total revenue minus compensation;
  • total revenue times 70 percent; or
  • total revenue minus $1 million.

Texas Comptroller's website:

     Franchise Tax: comptroller.texas.gov/taxinfo/franchise
     Tax Rates: comptroller.texas.gov/taxinfo/franchise/rates
     Frequently Asked Questions: comptroller.texas.gov/taxinfo/franchise/faq_rpt_pay

 

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