On June 15, 2015 Texas Governor Greg Abbott signed into law a permanent reduction in the Texas Franchise Tax.
There was a 25% reduction in both the retail rate which dropped from 0.5% to 0.375% and the non-retail rate which was reduced from 1.0% to 0.75%. In addition, the maximum revenue for filing the EZ form was doubled from $10 million to $20 million with a rate reduction from 0.575% to 0.331%. The new law will apply to all reports due after 01/01/2016. For information on how this Texas Franchise Tax relief will affect your business, call our office at 817.488.8939 to schedule your complimentary consultation.