A key bill on eliminating the franchise tax, a top priority for conservative Texas lawmakers and small businesses during this year’s legislative session, is headed to the floor of the House on Thursday morning.
The House and Senate both have filed bills to eliminate the franchise tax, which brings in about $8 billion in revenue each biennium. A little more than a third of that total goes to fund Texas schools, with the balance going to general revenue.
The state’s revised franchise tax, often…
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