Income tax
Texas has no personal or corporate income tax.

franchise tax
The franchise tax rate is $2.50 per $1,000 in net taxable capital and net taxable surplus or 4.5% of earned income, whichever is greater. The franchise tax is imposed on corporations and limited liability companies chartered/organized in Texas or doing business in Texas. Sole proprietorships and partnerships are not subject to the tax.

 

Monahans Economic Development Corporation
303 S. Allen
PO Box 61
Monahans, Texas 79756
432.943.2062

  
Taxes:

Property Taxes
Ward County has a total of three (3) taxing entities. Depending on the business location, city taxes may not be imposed. Following are the 2006 tax rates per $100 of assessed value:

2006 Tax Rates
Ward County .5712
City of Monahans .3504
MWPISD 1.4850
Total Rate 2.4854

Source: Ward County Appraisal District
Sales & Use Tax
Monahans has three Sales & Use Tax rates. A location outside of the city exempts the business from the city rate. The current rates are as follows:

State 6.25%
City 1.50%
County .50%
Total 8.25%

*Source: Texas Comptroller of Public Accounts

This page updated: 11/2/2005
 
 

For additional information please give us a call - 432.943.2062
or send us an email.

Back to Top
Copyright © 2005 Monahans Economic Development Corporation.  All rights reserved.