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Under the new law, the state's franchise tax exemption will double, allowing up to $2.47 million of an entity's total taxable revenue to be exempted from franchise taxes.
The Constitution of Texas is the foremost source of state law. Legislation is enacted by the Texas Legislature, published in the General and Special Laws, and codified in the Texas Statutes. State agencies publish regulations (sometimes called administrative law) in the Texas Register, which are in turn codified in the Texas Administrative Code.
Instead, Texas has sales and property tax. The standard sales tax rate in Texas is 6.25%, “However, local tax jurisdictions have the authority to impose up to an additional 2% tax. Consequently ...
For the 10 years of the tax benefit period, reduced local school district revenues are substantially replaced with state funds through the state public school finance system. [4] The Texas Tax Code gives the Texas Comptroller's office responsibility and authority to adopt rules necessary for the implementation and administration of the program. [5]
The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.
The state's law says drug dealers must purchase Drug Tax Stamps at a rate of $100 an ounce of marijuana, $150 per gram of controlled substances, or $500 per 50-dosage units of controlled ...