New Developments in the Determination of the Texas Franchise Tax Liability
The Energy Law Blog
MARCH 16, 2016
The Texas Franchise Tax is imposed on taxable entities that do business in Texas or that are chartered or organized in the state. Taxpayers subject to the Texas Franchise Tax may compute their tax liabilities under several alternative methods to determine which one results in the lowest amount of tax due. One such method is to start with the total revenue from the entire business and subtract from that amount either a deduction for the taxpayer’s cost of goods sold (“COGS”) or a deduction for t
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