October 26, 2011
TO: WBDT Distributors
FROM: MIKE McKINNEY
SUBJ: Enclosed TTARA Publication
The 2013 Session of the Texas Legislature will be far worse than the 2011 Session in terms of the state meeting its financial needs and commitments. The currently-imposed Franchise Tax (the “Margins Tax”) is under attack in the courts and there could be a contemplated re-structuring of that tax.
The Texas Taxpayers and Research Association (WBDT is a member) has done an extensive publication regarding the Franchise Tax. This publication has been reprinted by WBDT and is attached. We think you’ll agree that the study is quite comprehensive. We felt like you’d like to have a copy.