I get that many services you can obtain from other states doesn’t exist in Texas.
But still to fund the police, pave roads etc. can’t be cheap and can’t be all or even funded by feds.
Do they charge a high sales/corporate tax?
In: Economics
Texas has a franchise tax on businesses operating in Texas. It has a weird tax computation and I can’t find any source on how much Texas collects in franchise tax per year, but I prepared probably around 20-25 Texas franchise returns when I was working as a tax accountant and I saw a few companies pay well over 200 thousand.
Other people have mentioned property taxes but they’re not quite right, Texas does not impose a state level property tax, rather they allow the counties and cities in Texas to impose property taxes. Any revenue generated from those goes to the county or city not to the state of Texas. Though that just means that the state of Texas doesn’t have to provide those funds to counties/cities so it often amounts to the same thing.
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