A reason maybe why Texas’ criedt rating ended up AA+?From the Tax Foundation: ‘The Texas margin tax replaced the state’s corporate income tax, with the goal of broadening the base of businesses subject to it. Arguments that the tax created an unacceptable burden on small and unprofitable businesses, however, led to significant exemptions which undermined its ostensible goal. In 2009 alone, an additional 100 proposals to modify the tax made their way through the Texas state legislature’...
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Samuel said on March 09, 2013:
A reason maybe why Texas’ criedt rating ended up AA+?From the Tax Foundation: ‘The Texas margin tax replaced the state’s corporate income tax, with the goal of broadening the base of businesses subject to it. Arguments that the tax created an unacceptable burden on small and unprofitable businesses, however, led to significant exemptions which undermined its ostensible goal. In 2009 alone, an additional 100 proposals to modify the tax made their way through the Texas state legislature’...