Texas Businesses May Be Paying More Taxes

Texas businesses pay 54 percent of all taxes collected in the state, a much higher tax burden than most other states, according to a study by the Council on State Taxes (COST).

California, Massachusetts and Virginia, which often compete with Texas on the economic development front, average a tax burden of 37 percent, the study indicates. The national average is about 41 percent, according to testimony provided by the Washington, D.C.-based Council on State Taxation at a legislative committee hearing in Austin this week.

Visit the COST website here: http://www.statetax.org/.

Go here for more details on the Texas tax situation: