Taxes
The state of Texas does not levy a corporate or personal income tax.
Business Franchise Tax: Texas has a Business Franchise Tax of approx. 1%; More info: Texas Comptroller of Public Accounts.
State Income Tax: Texas does not levy a personal or corporate income tax
Property Tax:
City of Paris – 0.46387
Lamar County – 0.3063
Chisum ISD – 1.0894
North Lamar ISD – 0.9169
Paris ISD – 0.9609
Prairiland ISD – 0.9073
Paris Junior College – 0.066328
Sales and Use Tax Rate
State: 6.25%
City: 1.5%
County: 0.5%
Total: 8.25%
Inventory Tax Rates
Client will be eligible for a 100% exemption from Ad Valorem taxes (City, County, and School) on inventory that leaves the State of Texas within 175 days of arrival. This incentive requires no prior approval for the Paris location and is in effect as long as the Client has qualifying inventory.