| In 1999,
the Texas Legislature passed in SB 441, a franchise tax credit
for qualified investments in strategic areas. Rural counties and communities
meet this definition for agricultural processing investments. The
legislation was passed to encourage investment in these areas.
A franchise
tax credit is available for agricultural processing investments
in counties of less than 50,000 population, which applies to Moore
County. A tax credit of an amount equal to 7.5% of the project investment
will be given to the company in equal amounts over a five-year period.
The credit may not exceed 50% of the franchise tax due. |
