Local Business Tax (Watch)

Local Business Tax (Watch)

CS/HB 603 (Gonzalez) and SB 910 (Garcia) create new exemptions from the local business tax for veterans, certain spouses of veterans and low-income people. SB 910 exempts businesses with fewer than 25 people if an exempt individual owns a majority interest in the business. CS/HB 603 exempts businesses with fewer than 100 people if an exempt individual owns a majority interest in the business. CS/HB 603 also allows certain cities that impose a local business tax on merchants measured by gross receipts to continue to impose the tax. (Hughes)