Rep. Wray on the Franchise Tax/Margins Tax 2015 Reforms

• “In Texas, if you have a million dollars or more in gross revenue, you have to pay this tax. We were able to cut the rate by 25 percent. That is a significant cut. That is $2.6 billion revenue cut in the state of Texas.”
• “We also view that as a first step in repealing the tax,”
• “The tax is generally viewed as a barrier to businesses that want to relocate to Texas or new businesses starting and the growth of businesses.”
• “I believe, and some of the others in the legislative believe, that by cutting this tax we will actually help businesses create jobs and attract businesses to the state of Texas.”

Waxahachie Daily Light