Franchise Tax Draft Rules Released by the Texas Comptroller’s Office

Early on August 1, the Texas Comptroller of Public Accounts exposed the draft rules for the new franchise tax on taxable margin to selected professionals across the state for comment. The comment due date is August 13 and TSCPA's State Taxation Committee is working to provide feedback by that date. After considering this initial feedback, the redrafted proposed rules will be posted for public comment in the Texas Register.