Texas

The Comptroller of Public Accounts administers the Texas state taxes. Texas is one of seven states that do not have a state income tax. The state does generate revenue from other taxes, such as sales and use tax, franchise tax, and various excise taxes.

The general state sales and use tax rate is 6.25%. In addition to the state tax are city, county, transit, and special purpose district sales and use taxes. This results in a possible maximum sales and use tax of 8.25%.

Corporations and LLCs are required to file a Franchise Tax Return, for the privilege of doing business in the state. This annual report is due May 15.

Some of the fuels taxes collected by Texas are for diesel fuel, gasoline, liquefied gas, and the school fund benefit fee.

Other excise taxes charged by the state of Texas are the cigarette tax, cigar and tobacco products tax, and the cigarette and tobacco products outdoor advertising fee.

For additional information on Texas taxes or to download tax forms, visit the Comptroller’s website at www.window.state.tx.us/taxes.

Are you looking for a CPA, Accounting Firm, or Financial Advisor to assist you with your Texas tax reporting, bookkeeping, or general accounting needs? Check out the CPA Search feature on this website.