Kate Strittmatter

The Texas Comptroller of Public Accounts has adopted amendments to 34 TAC §3.588 (Margin: Cost of Goods Sold) without changes from the version originally proposed in the April 3, 2026 issue of the Texas Register. The amendments update the franchise tax cost of goods sold (COGS) rules to reflect several recent legislative changes, align certain depreciation provisions with current federal tax law, and provide additional guidance for specific industries. [sos.texas.gov] The final rule...

The Texas Senate Finance Committee has been tasked with several key reviews: Examining whether to continue increasing the Homestead Exemption, a policy that voters have strongly supported in recent years. Analyzing the effects of lowering the senior homestead exemption age from 65 to 55, a shift that would freeze home values ten years earlier for more than 3 million Texans. Studying how these potential changes could influence taxpayers, school district budgets, and the long‑term stability of...

The federal Opportunity Zone program , originally created under the Tax Cuts and Jobs Act of 2017 to encourage investment in low-income communities through tax incentives, will sunset at the end of 2026 . A new Opportunity Zone program , established by tax legislation passed in 2025, will replace it. Key milestones include: July 1, 2026 : State governors must designate new Opportunity Zone areas. January 1, 2027 : The new program officially opens for investment. What’s Changing? Eligibility...