Now showing items 1-10 of 47
Ship and Ship Equipment Sales May Be Exempt from the Sales and Use Tax
While most ship and ship equipment sales and leases are subject to Texas sales and use tax, there are several situations for which the Texas Tax Code provides exemptions.
Call to the Texas Legislature: The Franchise Tax Needs Substantive Changes, Not Just Rate Reductions
This articles addresses one of several substantive issues that persist in the Texas Franchise Tax Code that requires the legislature’s attention. With the next legislative session set to begin in early 2017, the hope is ...
Current Developments in Texas Franchise Tax
Professor Alyson Outenreath provides legislative updates from the 81th session, discusses Texas Comptroller FAQ Guidance, and briefs important court cases published in 2009 in “Current Developments in Texas Franchise Tax.”
The New Texas Margin Tax—The Margin Tax Expands the Types of Entities Subject to Taxation
The new Texas Margin Tax expands the entities which are subject to tax, however, exemptions exist for certain entities, small businesses, and passive investment entities.
Understanding the Meaning of Sales Price or Receipts
Texas deems certain services and the sales of tangible personal property as taxable; the tax base is calculated from the sales price or gross receipts. An entity must retain documentation in case of an audit or for when ...
The New Texas Margin Tax—Understanding How the Margin Tax is Computed
A short essay discussing how taxable entities calculate the new Texas Margin Tax.
ABA Tax Section Comments on Assets-Over Partnership Mergers
This article discusses the ABA Tax Section submitted comments concerning the tax treatment of property distributions following partnership mergers.
The New Texas Margin Tax—The Margin Tax Expands the Types of Entities Subject to Taxation and Changes the Tax Base and Rate
Texas corporations and limited liability companies are the only entities required to pay the Texas franchise tax; the new Texas Margin Tax expands the types of entities subject to the tax. The Margin Tax requires combined ...
IRS Releases Memorandum on Low-Income Housing Limited Partnerships
This article discusses the April 25, 20016 IRS memorandum, issued to its exempt organizations determination agents, explaining the criteria for processing exemption applications under Section 501(c)(3) or (c)(4) for ...
Taxation of Series LLCs in Texas: Bigger Isn’t Always Better in the Lone Star State
Texas’s Comptroller of Public Accounts announced a policy concerning the taxation of series LLCs in which all series of a series LLC should be aggregated and treated as a single taxable entity for Texas franchise tax ...