State and local taxes per capital in Texas are among the lowest in the country.

Corporate Franchise Tax

Apportionment is determined by using a simple gross receipts formula, with allowable deductions applying to both capital and earned surplus components.
 

Tax Rate:
0.25 percent or $2.50 per $1,000 of net taxable capital

4.5 percent on net earned surplus

Motor Fuels Tax

Taxes imposed in Texas on three fuels:

Gasoline

20 cents per gallon (19 cents for transit companies)

Diesel

20 cents per gallon (19.5 cents for transit companies)

Liquified Gas

15 cents per gallon

Unemployment Insurance Tax

Business that employ one or more individuals may be subject to state unemployment taxes.

New Employers pay 2.7 percent on the first $9,000 of wages per employee. A minimum of six quarters is required to obtain an experience rating.

The effective tax ranges from a minimum of 0.30 percent to a maximum of 6.30 percent, with the average for all experienced rated accounts being 0.85 percent.

Workers Compensation Insurance

Workers’ Compensation Insurance is not mandatory in Texas. Recent tort reform changes by the Texas Legislature have resulted in major improvements in the state’s program for workers’ compensation and improvement in the overall Texas business climate.

Phone:

936-257-0055

Fax:

936-257-0066

Email:

info@daytontx.com