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Monday, August 17, 2009

Texas School Supplies Tax Free Holiday Starts Friday

by taxnick on August 17, 2009

This year, the Texas Legislature added classroom supplies to the items eligible for the state’s three-day sales tax holiday, which starts Friday. Clothes, shoes and school backpacks were already included.
Texas school supplies, backpacks, clothing, and shoes valued under $100 will be exempt from sales tax.
Shoppers will save about $8 on every $100 they spend without [...]

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Direct Taxes Code: The Debate Has Begun

by taxnick on August 17, 2009

The Direct Taxes Code is being suggested as a replacement to the Income Tax Act 1961. What is the idea behind replacing something that has been around for close to 50 years and what is the strategy behind the exercise?
Why a replacement?
The direct taxes code is being designed to be a replacement rather than an [...]

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