With high inflation, worker shortages, supply chain issues, and COVID shutdowns, Texas small businesses have faced challenge after challenge over the last three years. It’s now time for legislators in Austin to help Main Street and deliver needed tax relief. Texas legislators can act now to do just that – it’s time for them to cut the Inventory Tax.
- Texas is one of only nine states that taxes businesses on their inventory.
- The tax applies to anything used in the production of income, including inventory, furniture, machinery, supplies, and more – regardless of whether a business nets a profit.
- The Inventory Tax is burdensome and time consuming – and it continues to raise costs for small businesses.
- Cutting the Inventory Tax is our chance to stand up for Main Street and put more money back in the pockets of our hardworking small businesses.