The Comptroller of Public Accounts of the U.S. State of Texas has published a letter/memo on the tax rates, thresholds, and deduction limits for Franchise Tax (business margin tax), including new values for 2022 and 2023. The Franchise Tax is levied on a taxpayer's taxable margin, which is the lower of: total revenue less cost of goods sold; total revenue less employee compensation and benefits; 70% of total revenue; and total revenue less USD 1 million. The letter/memo includes the following values for 2022 and 2023: No Tax Due Threshold - USD 1,230,000 Tax Rate (retail or wholesale) - 0.375%...