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===Changes to the Franchise Tax in 2006===
In 2006, Texas lawmakers made radical changes to the Franchise Tax in an attempt to raise revenues. According to the Texas Taxpayers and Research Association (TTARA), the franchise tax was rewritten with following policy goals in mind:
*[[align the tax with a modern economy]]*[[create a simpler business tax]]*[[eliminate tax planning opportunities]]*[[raise roughly $3 billion in new state revenue annually]]
Before these sweeping changes, the franchise tax only applied to corporations and limited liability companies (LLC). After 2006, the tax extended to partnerships and professional associations
