A Texas lawmaker has penned a bill to end the inventory tax that business owners must pay.
Among those business owners is Tim Green, who owns Fox Scientific in Alvarado. It is a small business of about 25 employees and a large warehouse storing industrial laboratories and equipment -- inventory items Green must pay property tax on.
"Texas is a great state to own and operate a small business in, right? But we can't be complacent that we are just great," Green said."Take for example, if we load up on inventory and a customer quits buying it. Guess what? We get to keep paying that tax on it." According to the National Federation of Independent Business, Texas is one of nine states that still has an inventory tax. State Sen. Drew Springer, , is writing a bill to eliminate it.Sign up for NBC DFW newsletters“I think this is a great way of giving some of those tax dollars back to Texans,” said Springer.
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