Taxes

Seminole, where dollars make sense.

Property Taxes:
The following rates reflect the 2010 tax rate per $100 of assessed property value.

2011 Tax Rates Gaines County Appraisal District
TAXING UNIT	2011 TOTAL
Seminole ISD	1.000000
Seminole City	0.560550
Seagraves ISD	1.000000
Seagraves City	0.804339
Loop ISD	0.932500
Gaines County	0.236806
County Wide Equalization	0.144731
Flood Control & Lateral Roads	0.115546
Hospital	0.110000
NE Gaines County ESD	0.046423
Water District	0.008386

Source: Gaines County Appraisal District

Property taxes are local taxes. Local officials appraise and set the value of your property, set your tax rates and collect your taxes.

Income Tax:
Texas has no personal or corporate income tax.

Franchise Tax:
Texas has amended its state statutes, which affect franchise tax reports due on or after January 1, 2008. The new franchise tax is now effectively a gross margins tax. A calculator provided by the State Comptroller's office is available to assist you in estimating the impact, if any, on your business.

For more information about the Texas Corporate Franchise Tax, visit the Texas Comptroller of Public Accounts website. http://www.window.state.tx.us/taxinfo/franchise/index.html

Sales & Use Tax:
State Sales and Use Tax is imposed on all retail sales, leases and rentals of most goods, as well as taxable services.

Seminole has two (2) Sales & Use Tax rates. A location outside of the city exempts the firm from the city rate. The current rates are as follows:

State	6.25%
City	1.50%
Total	7.75%

Source: Texas Comptroller of Public Accounts