Skip to content

Small Business Owners Applaud Senate’s Passage of Tax Relief

Small Business Owners Applaud Senate’s Passage of Tax Relief

March 22, 2023

NFIB Texas has pushed for meaningful property tax relief with the launch of the ‘Cut the Inventory Tax’ campaign

Small Business Owners Applaud Senate’s Passage of Tax Relief

AUSTIN (March 22, 2023) – Small business owners applaud the Senate’s passage of (SB 5) which would provide meaningful tax relief for local job creators. Introduced by Sen. Tan Parker (R-Flower Mound), SB 5 increases the inventory tax exemption and offers a credit toward the franchise tax. NFIB has made cutting the inventory tax a top priority for the 88th Legislature, with paid statewide radio and digital advertisements to encourage legislators to provide needed tax relief to Texas small businesses. Following the Senate’s passage of SB 5, NFIB State Director Annie Spilman said: “This is the first tax relief measure of its kind to combine both inventory tax relief and a franchise tax credit to help businesses of all sizes, but particularly our small businesses. In the past three years, our local job creators have faced enormous challenges, and with our state’s $33 billion budget surplus, there’s no question they deserve meaningful tax relief this legislative session. This tax relief will allow small business owners to invest in their employees, meet their customers’ needs, and contribute to our communities. We look forward to working with lawmakers to get this tax relief across the finish line and to Governor Abbott’s desk for signature.” Background: Texas is one of nine states to fully tax inventory. The current exemption is $2,500, up from $500— which only recently increased in 2021. Before it was increased during the 87th Legislative Session, the exemption had not increased since 1995. Business owners haven’t seen franchise tax relief since 2015. In December 2022, Spilman penned an op-ed for the Dallas Morning News outlining why property tax relief is crucial for small businesses and the Lone Stars’ economic recovery. CLICK HERE to read excerpts of the op-ed. In January 2023, NFIB launched the ‘Cut the Inventory Tax’ campaign, a paid effort including statewide radio and digital advertisements encouraging legislators to provide needed relief for Texas small businesses. Additionally, several NFIB members, including Andy Ellard, Tim Green, and Bud Walters, have been featured in local news coverage on the issue. To learn more, visit NFIB.com/TexasTaxCut. During his State of the State address, Governor Abbott listed property tax relief as his first emergency item for the legislature.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

June 3, 2025
What Happened in Austin for Texas Small Business Owners During…
A look at the small business victories achieved during the 2025 Texas Legis…
Read More
June 2, 2025
Small Business Owners Thank Texas Legislature for Sending Cyber…
Texas Legislature approves SB 2610, which aims to protect small businesses…
Read More
June 2, 2025
NFIB Releases New Radio, Digital Ads Thanking Texas Reps. De La…
NFIB will feature radio and digital ads throughout Texas’ 15th District a…
Read More
Small Business Owner Calculates Taxes Finance Expensive Inventory Inflation Cost
May 27, 2025
GUEST EDITORIAL: NFIB Texas Member Urges Congress to Make the 2…
The deduction is set to expire by the end of the year.
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility