A brief state rundown: Texas
Meredith Smith, Tram Le and Stacey Roberts, from TaxOps’ SALTovation Team, talk about the changes associated with the PPP loans and franchise tax sourcing in Texas and how that might impact their clients.
What You Will Discover:
- [00:48] How Texas is handling PPP loans
- [02:55] What they have learned about some franchise tax sourcing
- [04:29] How will these rules be implemented?
Quotables:
- “I think the real big thing here is that the comptroller basically is revising the rules and clarifying what they really mean and how the receipts are being sourced, right? The big kicker here is that most of these changes are retroactively effective and most of these changes are going to be effective as of January 1, 2008.” - Tram Le [03:59]
- “I think that this is either an opportunity for some taxpayers or it could actually cost some taxpayers some money, depending upon whether they’re in-state or out-of-state and applying the rules. And you also have to take into consideration that we’ve got a statute of limitations issue.” - Stacey Roberts [06:08]
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Production Support
This episode was produced with support from Truth Work Media. www.truthworkmedia.com
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