« Will State Sen. Shapiro run for Hutchison's seat? | Main | Comptroller changes health care provider calculation for revenue and uncompensated care »

May 14, 2008

Texas businesses pay a hefty share of Texas taxes

In a recent electronic newsletter the Texas Association of Business referenced a study by Ernst & Young LLP and the Council on State Taxation that shows Texas businesses pay over 60% of all state and local taxes. And that's before the new margin tax. There are only five states with businesses carrying more of the load, including neighbor Louisiana and such major industrial states as Alaska, North and South Dakota, and Wyoming. California comes in at 41.4% and New York at 42.4%.

Before you get exorcised, though, remember that most other states have a personal income tax, and such taxes in New York and California are steep. That's one way to bring the business tax percentage down: institute a personal income tax in Texas. Of course that requires an amendment to the state constitution, so don't hold your breath.

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451845869e200e5522483878833

Listed below are links to weblogs that reference Texas businesses pay a hefty share of Texas taxes:

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.