Tag: Texas
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Texas Increases Franchise Tax Exemption Amount and Reduces Filing Requirement For Some Taxpayers
On July 22, 2023, S.B. 3 was signed into law and enact the following important changes applicable to Texas franchise tax reports originally due on or after January 1, 2024. The bill will double the amount of a taxable entity’s total revenue that is exempted from the franchise tax from $1.235 million to $2.47 million.…