Practical Guide to Texas Margin Tax Author:Giles Sutton, Pat O'Shea, Doug Maziur, John LaBorde In May of 2006, Governor Rick Perry signed House Bill 3, the widely discussed Texas Margin Tax (TMT) designed to replace the existing franchise tax. Although styled as a franchise tax , the tax represents a continuation of the trend towards state gross receipts taxes. The margin tax applies to most types of entities doing business in Texas. The ... more »effective date of the legislation was January 1, 2008, which means that calendar year companies filed their first margin tax returns on May 15, 2008, based on 2007 information. This book provides CPAs, tax attorneys and corporate tax departments with the practical guidance they need to navigate through the new legislation. Like other Practical Guide products in the CCH line, the book will contain multiple examples, check lists, filled in forms and other relevant practice tools designed to assist today s practitioner.« less