Texas Revised Franchise Tax and You

Gas prices are making everything go up, but now Texas residents have something else to worry about.  The Revised Texas Franchise Tax is due next month.  Thousands of businesses that never paid the tax before are finding they owe money now.  We spoke with a restaurant owner today who says his business will have to pay tens of thousands more because of the Revised Franchise Tax.  One accountant we spoke with tells us hundreds of business owners will owe money and they still do not know.  If you are a business owner, click here to find out more about the tax.  For consumers, this could mean higher prices depending on how much businesses have to pay, so prepare yourself.