Taxes / Insurance

Ad Valorem (Property) Tax

AreaRate
 Legal Assessment Ratio  100% 
 City of Denison  0.6333770/$100 
 Grayson County  0.4603660/$100 
 Denison ISD  1.4992000/$100 
 Grayson College  0.1812000/$100 
 Total  2.774143/$100 valuation

Ad Valorem Tax History

Ad Valorem Tax History

Sales & Use Tax

Exempt from taxes are groceries, medicine, property for resale, manufacturing equipment and many items used exclusively on farms and ranches for food production. Leased or purchased machinery, equipment, replacement parts, and accessories that have a useful life for more than six months, and that are used and consumed in the manufacturing, processing, fabricating, or repairing of the tangible personal property for ultimate sale, are exempt from state and local sales and use tax. Texas businesses are exempt from paying state and use tax on labor for constructing new facilities.

City of Denison: 2%
State of Texas: 6.25%
Total: 8.25%

Income Tax

Texas has no personal income tax. While Texas does not have a corporate income tax as such, it does have a corporate franchise tax.

Corporate Franchise Tax

This tax is imposed on all corporations and is measured by net taxable capital and by net taxable surplus that are apportioned to Texas. Apportionment is determined by using a single gross receipts formula, with allowable deductions applying to both the capital and earned surplus components. The tax rate on net capital assets is 0.25 percent, or $2.50 per $1000 of net taxable capital. The tax rate on net earned surplus is 4.5 percent. Corporations calculate the franchise taxes due on taxable capital assets and on taxable earned surplus, paying the greater of the two amounts.

Insurance (Unemployment)                                                                        

TypeAmount/Percentage
Taxable Base$9,000.00
Average Amount Existing Employees (percentage)0.85%
Statutory Amount for New Employees (percentage)2.70%
Maximum weekly Benefit$297.00

Workers' Compensation          

InquiryAnswer
Average Cost for all Manufacturing per $100 Payroll$5.00            
Average Rate for Office Workers (8810)$1.00            
Maximum Weekly Benefit$523.00            
Days of Waiting Period7            
Automatic Cost of Living for Total DisabilityNo            
Employee Allowed to Choose Any PhysicianYes            
Physician Must be Chosen from List of Pre Approved by EmployerNo            
Mental Stress Generally Allowed as a Compensation Injury as a Result of Cumulative Trauma No            
Carpal Tunnel Generally Allowed as a Compensation Injury as a Result of Cumulative Trauma Yes            
Back Generally Allowed as a Compensation Injury as a Result of Cumulative Trauma Yes            
Neck Generally Allowed as a Compensation Injury as a Result of Cumulative Trauma Yes            
Cardiovascular Generally Allowed as a Compensation Injury as a Result of Cumulative Trauma No            
Second Medical Opinion Allowed from Physician Chosen by Employee, but Paid by EmployerNo            
Wage-Loss System Applies for Partial DisabilityYes