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.