August 9, 2020 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs


Small Business Finance News


Texas' Budget Issues Threaten Small Business Tax Break

Written by Ken Gaebler
Published: 6/30/2010

Budget problems in the Lone Star State are threatening a small business tax break.

Legislators in Texas say the state's $18-billion projected budget shortfall over the next two years is threatening a current small business tax break.

Entrepreneur Cash Register

"It's going to be very hard to maintain it," said House Ways and Means Committee Chairman Rene Oliveira. "We have a lot of problems ahead."

Last year, the state legislature exempted businesses with less than $1 million in revenues from the state's business tax for two years. Unless lawmakers act, that threshold will drop to $600,000 next year - meaning that approximately 25,000 companies would see a net tax increase - bad news for small business owners.

The Houston Chronicle says that the initial tax break last year was paid for in part by a hike in taxes on smokeless tobacco products.

The issue could have a significant role in the upcoming elections. Governor Rick Perry - who faces reelection this November - has supported making the tax break permanent despite the state's budget issues. His challenger - Democrat Bill White - has not spoken about his position on this specific tax break.

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

Ready to Learn More? We Think You Might Like These Articles:


About Our Small Business News

Our small business writers cover all aspects of entrepreneurship. Our perspective is all about giving you news you can use to start and grow your business.



Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs

Resources for Gay Entrepreneurs

Businesses for Sale

Online Entrepreneur Tools


Lists of Small Business Incubators

Lists of Angel Investors