Texas Legislators Keep Franchise Tax Relief Coming for Small Business
National Federation of Independent Business (NFIB)/Texas, the state’s leading small business association, appreciates Senator Charles Schwertner and fellow authors for filing SB 575 that would further exempt Texas small business from the franchise tax.
“Senator Schwertner has once again taken the lead in recognizing that the franchise tax is an onerous regulation belaboring small business and that they need relief from this burden,” said NFIB Executive Director Will Newton. “In a 2013 survey of NFIB/Texas members, 57 percent of respondents said they paid the franchise tax even when they did not make a profit. This is a clear signal that this tax is not operating in the way that it was intended, and that small business owners are taking on the brunt of this dysfunctional tax”
NFIB/Texas has 21,000 dues-paying members representing a cross-section of the state’s economy from agriculture, construction, and manufacturing to wholesale, retail, and services. Additionally, NFIB/Texas membership is 96 percent comprised of businesses who have 40 employees or less and is the largest association advocating for small business in the Capitol.
NFIB/Texas coverage of the franchise and property tax relief for small business throughout the session can be found here.
For more information visit nfib.com/Texas.
Sarah Tober, NFIB Texas Communications Director