Texas House Passes Franchise Tax Relief Bill; Legislative Deadlines Approach
Last Tuesday, the House spent most of the day (and evening) debating HB 500 by Representative Harvey Hilderbran (R-Kerrville), which is an omnibus franchise tax bill that started out giving $400 million in franchise tax relief including making the $1 million small business exemption permanent. After hours of debate and 24 floor amendments were adopted, the amount of tax relief climbed to $667 million. About the small business exemption, Chairman
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