Changes

[Table 2: insert comptroller table for 2015 vs 2016/2017]

Texas fosters a favorable tax environment by enforcing franchise taxes that are significantly lower than those of other states and not imposing a personal income tax. This is especially helpful for small businesses that are struggling to establish themselves and grow in their first years. Business that earn less than $20 million in annual revenue can instead file taxes through an EZ Computation Form that has a further reduced tax rate than the normal franchise tax. Furthermore, Texas has a no-tax-due threshold of $1.1 million, which means that businesses that have a total annual revenue of less than or equal to $1.1 million are not required to pay any franchise taxes.