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|Has keywords=Texas, franchise tax, small businesses, Greg Abbott
|Has project status=Active
|Has notesimage=Texas_franchise_tax.png
}}
=Overview=
The Texas Franchise Tax is a business tax imposed on all companies and corporations in return for state liability protections for doing business in the state. In 2006, the tax was rewritten in attempts to raise annual state revenue. In 2015, Governor Greg Abbott signed a legislative bill to decrease tax rates by 25%. These changes to the franchise tax make Texas a favorable business climate in terms of taxes, especially for smaller corporations.
