Faculty Affiliate Carliss Chatman, Professor at SMU Dedman School of Law, wrote an op-ed on Proposition 6, a measure on the upcoming Texas’s ballot that would make Texas the only state in the nation with a constitutional ban on securities-transfer taxes and occupation taxes on register market operators.
Chatman notes that Texas is already a business-friendly state. And with no personal income tax, no traditional corporate income tax, and no state capital-gains tax, companies only have to pay a modest franchise tax, this move could be laying the bedrock for the financial future of the state.
She writes that Proposition 6 forms part of a larger push, anchored by the upcoming launch of the Texas Stock Exchange, to position Texas as Gov. Greg Abbott calls it, “America’s financial hub.”
Read the full article here: Texas Plan to Ban Securities Taxes Would Bolster Business Image