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Multistate Tax Alert: Texas Tax Legislation Amends Franchise Tax, Adds New Credits and Sales/Use Tax Exemption


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On June 14, 2013, Texas Governor Rick Perry signed House Bill 500 (“HB500”) and House Bill 800 (“HB800”) into law. This tax alert summarizes the franchise tax changes enacted through HB500 and provides a brief overview of the new tax credit and sales/use tax exemption created by the enactment of HB800. These bills contain several new provisions that impact a variety of industries and taxpayers as well as changes with potential application to a wider range of taxpayers, such as:

  • Temporary tax rate reductions for Report Year 2014 and potentially 2015;
  • New tax credit for certified rehabilitation of certified historic structures;
  • New tax credit and sales/use tax exemption for research and development activities;
  • Changes to determination of total revenue and cost of goods sold; and
  • Deduction of relocation costs for entities moving to Texas after September 1, 2013.

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