Franchise/margins tax calculator

Comptroller Strayhorn has put a tax calculator on her Window on State Government site that allows users to calculate the tax due under the new Texas franchise or "margins" tax.

While political opponents accuse her of using her office for political purposes, you might want to check out the tax calculator. Be sure and read the fine print or you might not complete the form correctly. For example, the big print says you can deduct wages as determined by W-2 forms, but the fine print reminds that owner and partner distributions are also deductible.

Comptroller's margins/franchise tax calculator