The “mind boggling” Texas Franchise [margins] Tax

Robert,

While working up to the Texas franchise tax deadline, I have enjoyed your recent efforts and comments against this ridiculous margin tax. I thought you might enjoy two of the questions on the long form return.

Tax Rate Questions

Is the entity’s total revenue from activities in a retail or wholesale trade greater than the total revenue from activities in other trades?     

Does less than 50% of the total revenue from activities in a retail or wholesale trade come from the sale of products produced by the entity or produced by an entity that is part of an affiliated group to which the entity also belongs (except for those businesses under Major Group 58, Eating and drinking establishments)?

Mind boggling, counterproductive and costly, you are exactly right.

Joe Raines
Wichita Falls

What do you think?...

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