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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.