Small businesses in Texas get tax break

05/29/2009 | Dallas Morning News (free registration), The

The Texas Senate approved a tax break that would make about 40,000 small businesses exempt from the franchise tax enacted three years ago. The bill will provide a total tax cut of $85 million next year and $87 million in 2011 and will exempt about 266,000 businesses. To fund the break, the tax on smokeless tobacco will be raised and is expected to produce $105 million over the next two years.

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Dallas Morning News (free registration), The

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