Johns Manville RFQ

Request for Qualifications

BUSINESS INCENTIVES

TEXAS TAX OVERVIEW

Texas imposes a 6.25% state sales/use tax on all retail sales, leases and rentals of most goods, as well as taxable services.

Local taxing jurisdictions can also impose up to 2% sales and use tax

FRANCHISE TAX

SALES TAX

• Privilege tax imposed at a rate of 0.75% • The tax is based on Total Revenue, less the greater of: –– Cost of Goods Sold –– Compensation –– 30% of Total Revenue • Total Revenue is apportioned using a single sales factor based on sales within TX/Total Sales

• Texas imposes a 6.25% state sales/use tax on all retail sales, leases and rentals of most goods, as well as taxable services. • Local taxing jurisdictions can also impose up to 2% sales and use tax

PROPERTY TAX

INVENTORY TAX

• Mill levy rate will vary depending upon taxing entities • Property tax is based on the assessed value of both real and business personal property

• Texas also imposes a local property tax on business

inventories other than Freeport eligible property • Inventory is considered Freeport and exempt from the tax if it is transported outside of TX within 175

JOHNS MANVILLE | CUSHMAN & WAKEFIELD 24