The U.S. Supreme Court recently agreed to hear a case that could change the way states tax online sales. The case, South Dakota v. Wayfair, Inc., challenges the U.S. Supreme Court’s 1992 decision in Quill Corp. v. North Dakota. In Quill, the U.S. Supreme Court reaffirmed that states could only impose their taxes on those […]
While the 2015 Texas Legislature gave taxpayers a significant franchise tax (margin tax) rate cut and repealed some smaller taxes (some of which had not been collected in years), it otherwise left much of the Texas tax code otherwise unchanged. In this Texas legislative recap, we’ll tell you about the changes the Texas Legislature made […]
As we reported earlier, the Third Court of Appeals ruled in Southwest Royalties, Inc. v. Combs that oil and gas above-ground and downhole production equipment doesn’t qualify for the Texas sales tax manufacturing exemption. This case has drawn a fair amount of attention due to the large potential financial impact on the State of Texas […]
A new Texas Comptroller hearing decision spotlights the importance of terminating business entities after they conclude their business. Doing so helps limit the entity’s exposure to potential tax assessments. This is because it, in many cases, may effective reduce the amount of time the Comptroller has to make an assessment against the entity. I’ll discuss […]
Members of the Texas Legislature have filed two tax bills for consideration in the current second special legislative session. Both are proposals for how to increase transportation funding in response to Governor Perry’s charge to the Legislature to consider “legislation relating to the funding of transportation infrastructure projects.” Exactly how much consideration the Legislature will […]
