Momentum - Business to Business Online Magazine MOMENTUM March 2020 | Page 28

TAXING MATTERS CHERYL E. JOHNSON, PCC Galveston Co. Tax Assessor Collector [email protected] INTERIM CHARGES May Present OPPORTUNITY FOR LOCAL BUSINESSES W ith more than 60 different taxes, fees and assessments in Texas, there are few places to “hide” from the tax collector and Comptroller. Certain businesses are exempt from taxation and, if contemplating a new venture, this list may be worth examining. A complete list is available in the Comptroller’s publication Property Tax Exemptions https://comptroller.texas.gov/search/?site=ctg_co llection&q=property+tax+exemptions) but these include cemeteries, charitable and primarily charitable organizations, community land trusts, religious organizations, private schools, low-income housing organizations, youth development associations, nonprofit water supply and wastewater service corporations, veteran’s organizations and other nonprofits. The best opportunities for improving the government/business relationship may be when the House and Senate delve into interim charges of the 26 MOMENTUM Speaker and Lt. Governor (full charges available at capitol.texas.gov). Senate Finance will be studying the dynamics of business personal property taxes to consider the fiscal impact of increasing exemptions or totally eliminating this tax. Senate Property Tax will be monitoring implementation of SB2 and seeking input for improvements as will House Ways and Means. This committee is also considering methods of providing additional property tax relief and will study sales and use and franchise taxes impacted by HB 1525, HB 2153 and HB 4357. The Committees on State Affairs, Urban Affairs and Land and Resource Management will also review local and state laws impacting businesses. All-in-all, the Legislature will be very busy this summer studying issues that could impact your business. Government belongs to those who show up so don’t miss these hearings!