EL PASO, TEXAS (KFOX14/CBS4) — A new Texas law set to take effect January 1st is poised to significantly alter the tax landscape for small businesses in El Paso, offering them substantial relief while raising concerns about potential revenue shortfalls for local governments.
Under House Bill 9, businesses will be exempt from paying taxes on up to $125,000 worth of inventory, covering city, county, and school district taxes.
This exemption is seen as a potential game changer for micro and small businesses…