The Texas Comptroller of Public Accounts has revised its policy regarding the franchise tax treatment of net losses from the sale of investments and capital assets in calculating gross receipts for apportionment purposes. The comptroller will apply the decision of the Texas Supreme Court in Hallmark Mktg. Co., v. Hegar, 2016 Tex. LEXIS 314 (Tex. […]
The post Texas Franchise Tax: Policy Revised for Treatment of Net Losses From Sale of Investments and Capital Assets for Apportionment Purposes appeared first on Tax & Accounting Blog.