Texas Lawmakers Move To Rein In Margin Tax

Law360, Houston (November 13, 2012, 8:28 PM EST) -- Texas lawmakers on Monday proposed a variety of measures designed to reform and even eliminate the state’s controversial business margin tax, which was the subject of an unsuccessful legal challenge decided by the state’s highest court earlier this year.

Proposed by state Sen. Dan Patrick, R-Houston, SB 100 would raise the so-called “total revenue exemption” to the margin tax from $1 million to $5 million while a separate bill offered by Sen. Craig Estes, R-Wichita Falls — SB 113 — would repeal the tax entirely....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.