028- 2006 New Tax Act  
2006 New Tax Act
Governor Rick Perry signed into law House Bill 3. This bill amends Texas Tax Code Chapter 171 to revise the existing franchise tax by changing the tax base, lowering the rate, and extending coverage to all active businesses receiving state law liability protection. New TX Tax will be effective for reports originally due on or after January 1, 2008
New Change
The tax applies to partnerships (GP, LLP), corporations, LLC, business trusts, PA, business associations, Joint ventures and other legal entities
Revised tax base is lesser of
· Total revenue – cost of goods sold;
· Total revenue – compensation;
· Total revenue * 70%.
Exclusions from total Revenue:
· Physician’s revenues from Medicaid, Medicare, Children's Health Insurance program, worker’s compensation claims and TRICARE, and actual costs for uncompensated care;
· Attorney’s cost of providing pro bono legal services, limited to $500 per case, etc.
Higher limits for no tax due reports:
· Taxable entities with revenues of $300,000 or less will owe no tax.
· Taxable entities with tax due of less than $1,000 will owe no tax.
Lower tax rate:
· The tax rate is 0.5 percent for entities primarily engaged in retail and wholesale trades as well as those businesses like eating and drinking establishments.
· The rate is 1% for all other taxable entities.
 
2006新德州公司税法
李圃会计师

德州州长刚刚签署一项有关德州公司税的法案。新法较现行的税法有很大改动。新法适用于2008年1月以后提交的税表,公司申报2007年度的德州公司税就要按新法执行。为方便公司税务规划,我们特别将新规定介绍给大家.

新德州公司税法规定,以前不需申报德州公司税的General Partnership无限合伙公司,Limited Partnership, LLP有限合伙公司,Professional Association专家联盟,Business Association商业联盟都要开始申报德州公司税。以前需要申报的其它类型公司将继续申报德州公司税.

新公司税法规定, 计算公司税的税基取决于以下三方面中最少一项,
· 应税收入-卖货成本;
· 应税收入-薪水福利成本;
· 应税收入 *70%.

新公司税法规定,可以从总收入减除几类收入,来计算应税收入.

· 对从医行业,可以减除的收入有 Medicaid 医疗补助计划,Medicare医疗养老计划,Children’s Health Program 儿童健康保险计划 (CHIP ),Worker’s compensation员工意外保险申请,TRICARE 和无偿治疗的成本.
· 对律师行业,可以减除的是无偿办案的成本,每个案子不能超过 $500.

新德州公司税法还规定,总收入在$300,000 以下或公司税低于 $1,000的公司,不用交德州公司税,但是税表都要按时上交。对于零售或批发公司, 税率将为0.5%,其他公司税率将为1%.
近期,我们会陆续为大家提供新税法的信息. 如果您有兴趣讨论有关税务规划及理财的问题, 欢迎大家打电话972.247.6009.或浏览我们网络上的文章 (英文和中文)。网址: www.pulicpa.com。