Thursday, April 17, 2003

Utah and Delaware Havens for Tax-Avoiding Limited Partnerships Texas is attempting to close loopholes which allow companies to avoid the state's franchise tax by incorporating as limited partnerships in states with more favorable tax laws (including Delaware and Utah). Legislatures estimate that closing the franchise tax loopholes would generate more than $400 million per year. The legislation is opposed by such large corporations as SBC and Dell Computer. [San Antonio Express] 9:59:36 AM