Texas --Multiple Taxes: Governor Proposes Increase in Small Business Tax Exemption

In his January 27, 2009 State of the State address, Texas Gov. Rick Perry called on the Legislature to expand the revised franchise tax exemption for small businesses from those with total revenue under $300,000 to include businesses with revenue under $1 million. The governor also characterized the property tax appraisal system as broken and cautioned that without reforms in "accountability, transparency and restraint" taxpayers would be subjected to an continually increasing property taxes. Lastly, the governor also praised the previous repeal of telecommunications taxes and indicated he supported a combination of lower utility taxes and increased, diversified energy production to preserve the leadership in the energy industry.

State of the State Address, Texas Gov. Rick Perry, January 27, 2009