- Spur economic growth and create more jobs in Texas by eliminating the Texas business margins tax.
No matter how you evaluate Texas’ business franchise tax, commonly called the “margins tax,” it fails the least-burdensome-tax test and fails to allow Texans the opportunity to flourish. This broad-based, gross-receipts-style margins tax is far more complex and unique among all taxes nationwide—with only Nevada having a similar gross-receipts-style tax. Eliminating this onerous tax would best serve Texans.
“Texas' margin tax is complex, costly, and difficult to comply with, giving rise to a less competitive state business climate.”