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On May 5, 2021, the Texas Governor signed into law House Bill 1195, which excludes federal PPP loans forgiveness as revenue for Texas Margin Tax (the “Margin Tax”). In...
To embed, copy and paste the code into your website or blog: My colleague, Matthew Roberts, recently posted an article regarding choice-of-entity, “Starting a Business in Texas: Choice of Entity.” The article provided a summary of the tax and non-tax implications of each potential entity type. We will discuss “passive entities” under Texas law. Please note the definition of a passive entity under Texas law is not the same as the definition under the Internal Revenue Code. Depending on the business being conducted in Texas, a certain type of entity may be more beneficial to...