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With no corporate or individual state income tax, Texas has one of the lowest tax burdens in the country.
Franchise Tax
The franchise tax is imposed on each taxable entity chartered or organized in Texas or doing business in Texas (List of Entities Subject to Franchise Tax). The following rates, thresholds and deduction limits apply to reports originally due on or after January 1, 2020 and until December 31, 2021:
| No Tax Due Threshold | $1,180,000 |
| Tax Rate (retail or wholesale) | 0.375% |
| Tax Rate (other than retail or wholesale) | 0.75% |
| Compensation Deduction Limit | $390,000 |
| EZ Computation Total Revenue threshold | $20 million |
| EZ Computation Rate | 0.331% |
Visit the Texas Comptroller of Public Accounts website for more franchise tax information.
Sales and Use Tax
The Sales and Use tax is 8.25% on taxable sales. The breakdown is:
| State of Texas | 6.25 % |
| City of Denton | 1.50 % |
| Denton County Transportation Authority | 0.50 % |
| Total | 8.25 % |
Property Tax
The 2019 Real and Personal Property Tax Rates (Property and Inventory) per $100 in assessed value are:
| City of Denton | $0.590454 |
| Denton County | $0.225278 |
| Denton Independent School District | $1.470000 |
| Total | $2.285732 |
