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TAX ISSUES:

• Franchise Tax: Every business corporation doing business in Texas must consider the application of the Texas Franchise Tax to its operations. This tax applies, generally, to the net surplus and capital of the business and is payable annually, where applicable.
• Sales Tax/Use Tax: Sales tax is to be collected by every "seller" making a nonexempt sale. Advice as to the application of the tax, the liability for non-compliance, and the procedure to effect compliance is essential to every business.
• Federal Income and Excise Taxes: Planning for future tax payments can aid in minimizing income tax liability and protecting against the expense of non-compliance. As nearly all income is taxable and as nearly all sales/exchanges constitute taxable events, guidance through the federal income tax maze of the Internal Revenue Code is invaluable.
• Employment Taxes: Employment taxes, in the form of Social Security taxes, self-employment taxes, and unemployment insurance payments, affect nearly all workers. Awareness of the law in these areas helps minimize errors and the expensive consequences of such.
• Estate, Gift and Generation Skipping Taxes: The transferor of property must be aware of the federal transfer taxes applicable to lifetime gifts and transfers at death. These taxes should be examined prior to any transfer of property, including money by gift.