Texas Business Tax Cuts Target High Tech, Clean Energy

Law360, Houston (June 17, 2013, 9:30 PM EDT) -- Texas Gov. Rick Perry signed off on legislation Friday that could bring nearly $1 billion in business tax relief by creating a revenue exemptions to the state’s margin tax and incentives for clean energy projects and high tech companies.

Perry approved three bills that allow businesses to exclude the first $1 million in revenue from margin tax liability and establish tax credits and exemptions for clean energy development and companies engaged in research and development.

Of the bills, H.B. 500, authored by Rep. Harvey Hilderbran, R-Kerrville,...
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