A Guide to Taxes in Texas


Texas is one of eight states that have no personal income tax. Most taxes in Texas are sales taxes, as well as taxes on specific businesses and industries. Here’s what that means and a guide to taxes in Texas.

As a Texas resident, you will pay no personal income tax. It’s one less thing to file during tax season. The trade-off is that the state sales tax rate is 6.25%, which is quite high compared to other states. And depending on where you live, your local sales tax can be as high as 8.25%.

Texas tax advice

There are also a few other taxes that Texas residents pay:

Texas businesses are subject to a franchise tax. It is a tax on the privilege of doing business in the state, and it is based on the gross receipts of the business.

There is an oil production tax, which is imposed on every barrel of oil produced in Texas. This helps fund the state’s regulatory agency, the Texas Railroad Commission.

There is a gas production tax, which is imposed on every thousand cubic feet (MCF) of natural gas produced in Texas. The petroleum production tax helps fund the state regulator, the Texas Railroad Commission.

There is also a hotel occupancy tax, which is imposed on each night’s stay in a hotel or motel. This tax varies from 6% to 8%, depending on the municipality.

What to do when you’re having trouble paying your taxes:

If you are having trouble paying your taxes, you have several options. You can set up a payment plan with the IRS or your state tax agency. This allows you to spread your payments over time, which can make them more manageable.

You can also request an extension, which will give you more time to file your return (although it is important to note that this does not extend the deadline for paying taxes due).

If you are still having difficulty after taking advantage of these options, you may want to consider hiring a tax professional who can help you with your tax problem. debt.

What about debt?

If you’re struggling with tax debt, you’re not alone. In fact, the IRS reports that there are currently over 14 million taxpayers who owe back taxes.

What is Debt Relief?

There are different options available when it comes to debt relief, and the best option for you will depend on your personal situation. Contact Debt Relief Freedom to learn more about your options.

General Debt Relief Options

Debt settlement: This is where you negotiate with your creditors to agree on a reduced repayment amount. This can be a great option if you’re unable to make your minimum payments, but it will likely negatively impact your credit score.

Debt Consolidation: This is where you take out a new loan to pay off your existing debts. This can be a good option if you’re able to get a lower interest rate on the new loan, but it’s important to make sure you don’t end up paying more in the long run.

Bankruptcy: This is the last resort option and should only be considered if you are unable to make progress on your debt. This will have a very negative impact on your credit score, but it can help you get out of debt if you can’t do it any other way.

Consult a tax specialist: If you are still having difficulty after taking advantage of these options, you may want to consider hiring a tax professional who can help with your tax debt.

In conclusion

As you can see here as part of a guide to taxes in Texas, there are a few different taxes that Texans have to pay. However, overall, the tax burden in Texas is relatively low compared to other states. So if you are looking for a place to live with low taxes, Texas may be a good option for you.

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