TITLE

Tax Trends

AUTHOR(S)
Cummings, Rocky
PUB. DATE
September 2008
SOURCE
Journal of State Taxation;Sep/Oct2008, Vol. 26 Issue 6, p11
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses both the areas of opportunity and the potholes with regards to the new Texas franchise tax. It notes that the franchise tax in Texas is calculated by multiplying taxable margin times the apportionment factor and then multiplying this figure by the tax rate. Moreover, it states that the new franchise tax provides a credit based on business loss carries over created on the 2003 and subsequently franchise tax reports that were not expired or exhausted on a report due before January 1, 2008. It was then concluded that Texas taxpayers can correctly file by several franchisers in the most advantageous way through their awareness on the important issues and proper planning with regards to taxation.
ACCESSION #
36906223

 

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