Taxes on business affect business decisions, job creation and retention, plant location, competitiveness, the transparency of the tax system, and the long-term health of the state’s economy. The state of Texas has a business-friendly tax structure with no state income tax. The Texas tax structure includes a Franchise Tax, Property Tax, and Sales and Use Tax.
Franchise Tax
The Texas Franchise Tax is imposed on each taxable entity formed, organized, or that does business in Texas. The tax is based on a taxable entity's margins and is computed in several ways.
Tax Entity Margins
-
Total revenue times 70 percent
-
Total revenue minus the cost of goods sold (COGS)
-
Total revenue minus compensations
-
Total revenue minus $1 million (effective Jan. 1, 2014)
-
Qualifying businesses can choose to file using the EZ computation
Property Tax
Texas has no property tax at the state level, and is levied on tangible real and personal property by local governments and special taxing districts. Kilgore has a low total 2023-24 tax rate of $2.219566 per $100 of valuation.
Taxes on business affect business decisions, job creation and retention, plant location, competitiveness, the transparency of the tax system, and the long-term health of the state’s economy. The state of Texas has a business-friendly tax structure with no state income tax. The Texas tax structure includes a Franchise Tax, Property Tax, and Sales and Use Tax.
Franchise Tax
The Texas Franchise Tax is imposed on each taxable entity formed, organized, or that does business in Texas. The tax is based on a taxable entity's margins and is computed in several ways.
Tax Entity Margins
-
Total revenue times 70 percent
-
Total revenue minus the cost of goods sold (COGS)
-
Total revenue minus compensations
-
Total revenue minus $1 million (effective Jan. 1, 2014)
-
Qualifying businesses can choose to file using the EZ computation
Property Tax
Texas has no property tax at the state level, and is levied on tangible real and personal property by local governments and special taxing districts. Kilgore has a low total 2023-24 tax rate of $2.219566 per $100 of valuation.
Tax Rates
Tax Rates
|
Tax Entity |
Current Fiscal Year 2023-2024 |
|---|---|
|
City of Kilgore |
$0.599000 |
|
Gregg County |
$0.278066 |
|
Kilgore ISD |
$1.167500 |
|
Kilgore College |
$0.175000 |
|
TOTAL |
$2.219566 |
*All property assessed per $100 Valuation
|
Tax Entity |
Current Fiscal Year 2023-2024 |
|---|---|
|
City of Kilgore |
$0.599000 |
|
Gregg County |
$0.278066 |
|
Kilgore ISD |
$1.167500 |
|
Kilgore College |
$0.175000 |
|
TOTAL |
$2.219566 |
*All property assessed per $100 Valuation
Sales and Use Tax
The state levies a sales and use tax of 6.25% on sales of tangible personal property and certain services. Kilgore’s combined rate, after city and county taxes totals 8.25%.
-
City - 1.50%
-
County - 0.50%
-
State - 6.25%
Sales and Use Tax
The state levies a sales and use tax of 6.25% on sales of tangible personal property and certain services. Kilgore’s combined rate, after city and county taxes totals 8.25%.
-
City - 1.50%
-
County - 0.50%
-
State - 6.25%
