Margin Tax drives prices and layoffs up

A survey by National Federation of Independent Business – Texas says small businesses are raising prices, laying off employees and dropping health insurance coverage because of the new franchise tax on business margin.  76% of responders said the tax would negatively affect their business in some manner, with some even resorting to borrowing money to pay the tax. Just 24% of those surveyed say the tax has not affected their business.

The Houston Chronicle covers the new survey and legislators’ reactions here.

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