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Texas is home to about 3.5 million small businesses, according to the National Federation of Independent Businesses. Estimates show that the average Texas small-business owner could save about $2,500 per year if voters approve an expanded business tax exemption on the Nov. 4 ballot.
The details: State Proposition 9 would exempt up to $125,000 of a business’s personal property, such as equipment, furniture and vehicles, from taxation. Texas business owners currently receive a tax exemption on property worth $2,500 or less.
“At $2,500, virtually everyone's paying this tax,” NFIB Texas Director Jeff Burdett said in an Oct. 24 interview. “If you have a desk, a computer and a chair, you're probably over $2,500 [in inventory]. … It makes no difference for almost any business.”
At the polls: Early voting in the Nov. 4 election began Oct. 20 and runs through Oct. 31. For more information about the propositions and candidates on your local ballot, visit www.communityimpact.com/voter-guide.
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