"I would favor expanding the current franchise tax to all Texas businesses"
I am not in favor of raising taxes on businesses for several reasons. Perry is not a fiscal conservative, so it does not surprise me that he is for raising taxes on Texas businesses. It is a very dumb and illogical idea to tax gross receipts, since some businesses have a very low profit margin on high gross receipts and other businesses have a very high profit margin on very low gross receipts.
I don't like taxing gross receipts either and would rather see no franchise tax, but if we are going to have to enact a business tax I would rather tax net income than gross receipts. Cutting waste should be the top priority either way.
I don't like taxing gross receipts either and would rather see no franchise tax, but if we are going to have to enact a business tax I would rather tax net income than gross receipts. Cutting waste should be the top priority either way.