Eliminating business tax on the agenda?
Can Texas afford to eliminate its state business tax?
As the federal tax bite grows, there is a nascent movement at the Texas Legislature to phase out the tax, commonly called the margins tax, without replacing it.
Business leaders and some conservative lawmakers say the tax, which taxes gross receipts as opposed to profits, is complicated and not applied evenly. Other critics of the tax say dropping it would make the state’s business climate even more attractive.
At first blush, eliminating the tax without a replacement might seem improbable. The tax raised $4.5 billion in 2012 and accounted for 10.3 percent of the state’s total taxes, according to the comptroller’s office.
http://www.statesman.com/news/business/eliminating-business-tax-on-the-agenda/nTnpp/
In 2006, the Legislature adopted the margins tax to shift the tax burden from the state’s shrinking goods-producing industries to the growing service economy as well as to stop large corporations from evading the old franchise tax.
It taxes gross receipts minus a choice of the highest of three deductions: Cost of goods sold, such as raw materials, or compensation, or 30 percent of total revenues.
But the IRS and the state use different definitions for these deductions, forcing companies to keep two sets of books — one for the state tax and one for federal purposes.
Source: Texas Taxpayers and Research Association
[font color=green]A more appropriate question is can Texas expect individual taxpayers to continue to pick up the slack for business interests? We provide the schools to educate their workers, the highways to transport their products, the court systems to enforce their contracts and the demand necessary to sell their products.
When will eliminating regressive taxes that affect individual taxpayers be on the agenda?[/font]
= new reply since forum marked as read
Bye-bye troll baby. 
Notice when RW nut jobs change the questions when they don't like them. 
