Gordon Edwards, the 2004 third-place finisher in the GOP chairman race in Ellis County, told me his thoughts on the state Legislature's new business tax, and how it would cause all sorts of headaches for small business owners.
Gordon, if you're reading this...I'd like to publicly acknowledge your almost-prophetic take on the "it's all for the children" business tax.
Here's what Heritage Alliance has today (go to their site to sign up for these e-mail updates):
David Hendricks: Small Businesses Up in Arms over New State Tax (San Antonio Express-News)
A Texas-sized tax revolt is percolating as small-business owners are hit with sticker shock from the new state business tax. Some small-business owners who have begun calculating their 2007 state tax, due by May 2008, are seeing tenfold increases, sometimes more. Will Newton, executive director of the National Federation of Independent Business' Texas chapter, cited a typical example. Instead of paying $6,000 under the old franchise tax system, based on profits, the same business must pay $60,000 under the new margin tax, based on revenues. Some companies expect worse.
Edwards really needs to consider running for a countywide post next year. He's a small businessman in every professional sense of the word. I'm thinking tax collector. In the primary. We need someone with a taxpayer mindset to get elected...
1 comments:
If Mr. Hendricks wants to avoid paying the tax all he has to do is become a sole proprietor or general partnership and then he will be exempt. That is an simple answer to his delima.
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