After the 2023 regular legislative session ended with no tax reduction package, Gov. Greg Abbott called multiple special sessions to tackle tax relief and other unresolved items. In July, Texas lawmakers — who had previously failed to reach a consensus on how to apportion roughly $12 billion for new tax cuts — passed three key measures: Senate Bill 2, Senate Bill 3 and House Joint Resolution 2.
What does it mean for businesses? In short, lower taxes by way of reduced school tax rates, a temporary…
