Archive for August, 2009

The 81^st Legislature made significant changes to Texas tax laws.

The changes include the following:

• a new exemption from state and local sales and use taxes for certain school supplies during the annual August Sales Tax Holiday
• revisions to the collection and allocation of local sales and use taxes
• a new exemption for crude oil and natural gas taxes
• a new method for calculating the tax on tobacco products other than cigars
• a revised payment process for losses covered by the Texas Windstorm Insurance Association
• a revision to the motor vehicle orthopedic handicap exemption
• a new Prepaid 9-1-1 Emergency Service Fee

For more information about these changes to Texas tax laws and how they may affect you, please see the Legislative Update at www.window.state.tx.us/taxinfo/taxpubs/st_update.html

Here are some useful tips to help manage your company’s losses in the recession. Although the downturn has changed normal payment patterns, when you see any of these signs, you should act before it is too late. Read the rest of this article »