- Need Professional CPA?
Tag: No income tax Texas
Starting a Business in Texas: Smart Tax-Saving Strategies for you
Introduction Texas continues to be one of the most business-friendly states in the U.S., attracting entrepreneurs with no state income tax, a strong economy, and low regulatory barriers. Whether you’re launching a startup, forming an LLC, or expanding an existing business, understanding Texas tax laws can help you minimize costs and stay compliant from day […]
Are Texas Residents Eligible for Any State Tax Credits
Introduction Texas is one of the few U.S. states that does not impose a personal income tax, meaning residents do not file a state income tax return or claim traditional state-level tax credits. However, Texans can still benefit from federal tax credits, state-specific incentives, and local property or business-related credits that help reduce overall tax […]
Texas Tax Brackets vs. Federal Tax Brackets: What’s the Difference
Introduction Texas is one of the few U.S. states that does not have a personal income tax. This means that while the federal government taxes income progressively through defined federal tax brackets, Texas residents do not pay any state income tax at all. However, Texans are still subject to other state-level taxes such as sales […]
What Is the Texas Margins Tax & Who Has to Pay It?
Introduction The Texas Margins Tax, commonly known as the Texas Franchise Tax, is a gross receipts tax applied to businesses operating in Texas. Unlike a traditional income tax, the margins tax is based on a business’s total revenue, with deductions allowed for specific expenses. This guide explains who must pay the tax, how it’s calculated, […]
Texas Franchise Tax: What It Is & How to Calculate It
Introduction Texas does not impose a corporate income tax, but businesses operating in the state may be subject to the Texas Franchise Tax. This tax applies to certain businesses based on their gross revenue rather than their net profits. This guide explains who must pay the Texas Franchise Tax, how to calculate it, and how […]
Texas Homestead Exemption: How Homeowners Can Save on Property Taxes
Introduction Texas homeowners can significantly reduce their property tax bills by applying for a homestead exemption. This exemption lowers the taxable value of a home, which results in lower annual property taxes. This guide explains who qualifies for a Texas homestead exemption, how to apply, and how much homeowners can save. What Is a Texas […]
Texas Sales Tax vs. Property Tax: Which One Affects You More?
Introduction Texas is known for its low-tax environment, but residents and businesses still pay sales tax and property tax, which significantly impact their finances. While Texas has no state income tax, property and sales taxes can be higher than in other states. This guide compares Texas sales tax vs. property tax, helping individuals and business […]