New Margin Tax for Small Business

[CobyPhoto]

Just another concern for small businesses in State of Texas: Margin Tax.

Not sure if this has been mentioned on the forum yet, but this is a new concern for the small business owner! Our great Govenor Perry has found another way to tax the people that least deserve to pay it.

As of January 1, 2007 business are required to report and pay Margin Tax on their GROSS revenues. If you build and operate a sucessful business you are now required to pay in effect, a State Income tax of 1% on your Gross revenues:

Link

If your Sole Proprietorship grosses over 300K in revenue a year, you fall under this new tax. Get ready!

NOTICE:

PLEASE do not make this a political discussion! It is posted for information purposes only for those people that own and operate a business and maybe affected by this new law.