07/27/2011 - Update: Out-of-State Retailers Beware; Soon You May be Doing Business in Texas (whether you like it or not!)
Texas has now joined the growing ranks of states that have passed laws aimed at increasing tax collection from online retail transactions. Governor Rick Perry signed into law S.B. 1 on July 19, 2011. The relevant language is found in Section 30.02 of the bill and will take effect January 1, 2012.
05/02/2011 - Out-of-State Retailers Beware; Soon You May be Doing Business in Texas (whether you like it or not!)
It currently appears that Texas may join a growing number of states that have passed laws aimed at increasing tax collection from online retail transactions. On Wednesday, April 27, 2011, the Texas House passed H.B. 2403, which provides that out-of-state retailers that have relationships with certain Texas “affiliated” entities will be deemed to be doing business in Texas for purposes of the sales and use tax. H.B. 2403 has been sent to the Texas Senate for consideration.
03/25/2011 - Environmental Tax Incentives Applicable to Real Estate
There are a myriad of federal and Texas tax breaks, as well as other incentives, designed to encourage Texas real estate developers to go green.
03/18/2010 - Warning: Trusts in Texas May Be Subject To Texas Franchise Tax!
The Texas franchise tax (also known as the “margin tax”) is so expansive that it can apply to private trusts administered in Texas.
03/16/2010 - The Storm Rages On: How Best to Obtain Texas Property Tax Reductions in a Turbulent Economic Climate
As we navigate the waters of these tough economic times, appraisal districts faced with massive city, school and county revenue losses caused by declining property values will most likely try to stem the tide by not voluntarily lowering taxpayers’ 2010 property values to their fair market values. Meanwhile, property owners struggle to reconcile the aftermath of declining occupancy rates, the bid/ask spread, and frozen financial markets with their property’s value as appraised by their local appraisal district.
02/24/2010 - Texas and Many Other States Will No Longer Automatically Respect the Form of Transactions Selected by Taxpayers for Sales Tax Purpose
Historically, a significant number of states had a general policy of respecting the form of a transaction chosen by a taxpayer and applied their sales tax laws based on that form of transaction. But several states, including Texas, that adopted and followed this policy are now undergoing a major shift to a new policy whereby they will determine the taxability of a transaction.
12/31/2008 - Ready to Rumble? (Or…How Best to Obtain Texas Property Tax Reductions for Your Business and Residence Due to Lower Property Values)
Irresistible force, meet immovable object. The irresistible force is the drop (extreme drop in many circumstances) in taxpayers’ property values during 2008. The immovable object is appraisal districts’ desire to maintain 2009 property tax values in order to avoid massive city, school and county revenue losses.
In anticipation of Texas appraisal districts not lowering voluntarily taxpayers’ 2009 property values to their fair market values, what follows is a brief toolkit to use in preparing for the good fight.
10/27/2008 - The Dark Side of the Internet: States Now Imposing Taxes on Businesses Regardless of Physical Presence
Does your company operate its business over the internet or make sales through its website? Do your customers or other businesses refer business to your website? Depending on the circumstances and the state, you might have inadvertently fallen into an ever-expanding trap of “nexus” with the states where your customers or the referring businesses are located.