Traders Accounting Helps Businesses Understand Changes in Texas Franchise Tax Laws

For business owners who are not understanding the changes in the Texas franchise tax law, Traders Accounting is helping. They are the leader in business consulting and tax planning services offering expert advice on how to prepare for the implementation of the new laws. “We at Traders want to help the Texas state comptroller’s office and ensure business owners understand what is now required of them.”The Texas state comptroller's office is providing the forms through their website.

According to the Texas state comptroller’s office, “the Texas franchise tax is a privilege tax imposed on each taxable entity chartered/organized in Texas or doing business in Texas.” Each entity will have a tax rate between 0.5% and 1% depending on the criteria listed in the new Texas franchise tax instructions.