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Tag: Small business tax Texas
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 […]
How to Claim the Texas R&D Tax Credit for Businesses
Introduction The Texas Research & Development (R&D) Tax Credit offers businesses an opportunity to reduce their tax liability by investing in innovation, product development, and technological advancements. This incentive helps companies lower their franchise tax or qualify for a sales tax exemption on R&D-related purchases. This guide explains who qualifies, how to calculate the credit, […]
Texas Has No State Income Tax – But What Are the Hidden Costs?
Introduction Texas is one of the few states in the U.S. that does not impose a state income tax. This makes it an attractive option for individuals and businesses looking to maximize their earnings. However, while Texas offers significant tax benefits, there are hidden costs that residents and business owners should consider before moving. This […]
Do You Have to Pay Capital Gains Tax in Texas? What You Should Know
Introduction Texas does not have a state income tax, which means there is no state-level capital gains tax. However, Texans are still subject to federal capital gains tax, which applies when selling assets such as real estate, stocks, and businesses at a profit. This guide explains how capital gains tax works, how to reduce your […]
Texas Franchise Tax: Who Needs to Pay & How to File
Introduction Texas does not have a state income tax, but it does impose a franchise tax on businesses. The Texas Franchise Tax is a gross receipts tax applied to businesses earning over a certain threshold. This tax helps fund state services, infrastructure, and education. This guide explains who must pay Texas Franchise Tax, how to […]
What Taxes Do You Pay in Texas? A Full Breakdown
Introduction Texas is known for being one of the most tax-friendly states in the U.S. because it does not have a state income tax. However, Texas still imposes various other taxes on businesses, homeowners, and consumers to generate revenue. This guide provides a complete breakdown of Texas taxes, including sales tax, property tax, franchise tax, […]
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 […]