2010 TaxGrams™
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State and Local Taxes
Texas State Tax Summary

Texas state tax summary, including corporate and individual Texas income taxes, credits, exemptions, deductions and more. Includes Texas estate, gift and inheritance tax, miscellaneous Texas taxes, pass-through entity treatment, payroll taxes, property taxes and Texas sales & use taxes.

Texas ranks #11 on the State Business Tax Climate Index (TaxFoundation.org).

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Texas Corporate Taxes

  • taxmOuth Texas Corporate Taxes
  • Texas Tax Rates & Brackets:

    None
  • Loss Carry-back/fwd: 0 Years Back / 5 Years Forward (temporary credit)
  • Throwback Sales?: N
  • Foreign Tax Deductible?: N
  • Alternative Minimum Tax (AMT): N
  • Gross Receipts Tax: 0.5% to 1.0% of Total Revenue less Adjustments and Discounts
    Rate varies according to business size and type
    No tax for entities with Annualized Total Revenue <$1 Million ($300,000 before 1/1/2010)
  • Capital Stock (Net Worth) Tax?: N

Texas Tax Incentives and Credits

  • taxmOuth Texas Tax Credits
  • Job Credits?: Y (temporary carryforward)
  • R&D Credits?: Y (temporary carryforward)
  • Investment Credits?: Y (temporary carryforward)

Texas Individual Income Taxes

  • taxmOuth Texas Individual Income Taxes
  • Texas tax rates and brackets:

    None
  • Local Option IT Rate: None
  • Federal Inc used as Base?: N/A
  • Standard Deductions: N/A
  • Personal Exemptions/Credits (c): N/A
  • Federal Tax Deductible?: N/A
  • State Tax Deductible?: N/A
  • Alternative Minimum Tax (AMT)?: N/A

Texas Estate, Gift and Inheritance Taxes

Texas Miscellaneous Taxes

  • taxmOuth Texas Miscellaneous Taxes
  • Gas Tax: 20.0 cents/gallon
  • Diesel Tax: 20.0 cents/gallon
  • Cigarette Tax: 141.0 cents/20 pack

Texas Pass-through Tax Treatment

Texas Payroll Taxes

Texas Property Taxes

  • taxmOuth Texas Property Taxes
  • Median Tax Paid on Homes (Rank): $2,232 (#14)
  • Median Value of Homes: $126,800
  • Tax as % of Home Value (Rank): 1.76% (#1)
  • Median Income of Homeowner: $63,850
  • Tax as % of Income (Rank): 3.50% (#14)

Texas Sales and Use Taxes

  • taxmOuth Texas Sales and Use Taxes
  • State Rate: 6.25%
  • County & City (Weighted Ave): 1.14%
  • Combined State and Ave. Local Rates (Rank): 7.39% (#11)
  • General Treatment of Services: Many Taxable
  • Gasoline: Exempt
  • Groceries: Exempt

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