Episode 25

full
Published on:

1st Jul 2021

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

Mentioned in this episode:

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Advanced Sales and Use Tax Workshop

Take your sales tax to the next level at Advanced Sales and Use Tax Workshop, February 19-21 in Nashville. Diane Yetter and the Sales Tax Institute’s industry-leading faculty provide individualized training, valuable resources, and practical solutions. Expand your network and earn 23 CPE credits. Visit the link in the show notes and use the code SALTOV10 for 10% off. Save your spot now!" https://keap.page/xp141/saltovation-podcast.htm

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About the Podcast

SALTovation: Making Sense of State and Local Tax
Welcome to SALTovation. The SALTovation show is a podcast series featuring the leading voices in state and local tax (SALT). Here we talk about issues, strategies, and planning tools to help you make sense of SALT. Because, in SALT, there is no “one and done.” SALT is a puzzle of ever-changing pieces. Solving that puzzle is our business at SALTovation. Tens of thousands of listeners know they won't get tax talk as usual with the SALTovation team. Our team is known for straight-talk with a flair for fun, providing clarity and opinions that move businesses forward with confidence.

Attorney, CPA, speaker, and writer Judy Vorndran leads the SALTovation team as they go inside business to help deal with the daily operations and long-term strategies of making SALT less “taxing.” Judy has spent more than 25 years advocating for businesses with innovative strategies, renowned knowledge and experience. She has helped guide thousands of taxpayers across the nation and globally through the morass of SALT, freeing them to concentrate on growth. Joining Judy are the wickedly smart members of the SALTovation team, who have seen, worked with and tamed some of the most prickly issues in SALT. They enjoy sharing their stories and knowledge with listeners.

Solving the SALT puzzle doesn’t happen in a vacuum; it takes a community. So, we invite leaders in business and state and local tax to share their stories, challenges and successes on this show. Drop us a line at SALTovation.com if you'd like to join the conversation and tune into our regular series at TaxOps.com.