HOUSTON (Jan. 23, 2023) – In an op-ed for the Houston Chronicle, business columnist Chris Tomlinson outlines why small businesses need a big tax break from the 88th Legislature.
Noting that Texas imposes a “crushing” property tax that is higher than 36 states, Tomlinson writes:
“Companies that own real estate, like many mom-and-pop shops, do not get the same exemptions and caps as homeowners, and their tax bills consistently rise faster than profits.
“Businesses also pay property taxes on inventory and anything they own, including furniture, equipment and computers. Two-thirds of states do not tax inventory, and 12 don’t tax businesses’ property. Texas offers only a $2,500 exemption.”
As the voice of small business in Texas, the National Federation of Independent Business (NFIB) has launched the ‘Cut the Inventory Tax’ campaign urging the Texas Legislature to provide needed relief for small businesses.
CLICK HERE to read the full op-ed. To learn more about the campaign, visit NFIB.com/TexasTaxCut.
