Texas voters can provide immediate, meaningful tax relief by voting ‘YES’ on Proposition 9.
What is Prop 9?
It is a constitutional amendment on the November 4th ballot to raise the exemption for business personal property tax (also known as the inventory tax) from $2,500 to $125,000.
Texas is one of just nine states where small business owners pay taxes on the value of their inventory for sale, their personal property, and everything else used to generate income.
Why is Prop 9 so important?
Its passage would save Texas small businesses over $500 million annually! And, make Texas even more competitive amongst its neighboring states.
Raising this exemption could allow Texas small businesses to increase employee wages and benefits, support their local communities, and invest in future growth. Thereby giving Main Street communities all over Texas the opportunity to have thriving economies.
The inventory tax hurts small businesses by:
- Requiring complicated, time-consuming calculations
- Penalizing growth by taxing inventory that may not sell for months
- Increasing already high operating expenses
How can I support Prop 9?
Make your plan to vote:
- Last day to register to vote: Monday, October 6
- Early Voting Period: Monday, October 20 to Friday, October 31
- ·Election Day: Tuesday, November 4