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Seminole, where dollars make sense.
Property Taxes:
Gaines County has four (4) taxing entities. If a business is
located outside the city limits, the city tax rate is not
applicable. The following rates reflect the 2006-2007 tax rate per
$100 of assessed property value.
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Source: Gaines County Appraisal
District
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
The franchise tax rate is $2.50 per $1,000 in net taxable
capital and net taxable surplus or 4.5% of earned income, whichever
is greater. The franchise tax is imposed on corporations and limited
liability companies chartered/organized in Texas or doing business
in Texas. Sole proprietorships and partnerships are not subject to
the tax.
Sales & Use Tax:
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:
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State |
6.25% |
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City |
1.50% |
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Total |
7.75% |
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Source: Texas Comptroller of
Public Accounts
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