Dallas Stats

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Category: Budget & Taxes

Texas More Tax-Friendly for Business Than Most States

States compete to attract new businesses, which can generate jobs and contribute to economic growth. While every state levies some form of taxes on businesses, some states are more tax-friendly than others. In addition to other factors, such as the strength of the labor force, a state’s tax code is an important consideration for businesses […]

Texas is One of Only Seven States With No Income Tax

The U.S. government collects a portion of every working American’s paycheck. States are free to levy an additional income tax. While taxes on individual incomes are a significant source of revenue for most states, a handful of states have no individual income tax. 24/7 Wall St. reviewed state level tax codes using tax data compiled […]

Texas Has the 5th Lowest Taxes in America

In the U.S. federalist system, each state government decides how to generate revenue — that is, which taxes to collect, and how. No state tax code is identical, and largely as a result, what the average American pays annually in taxes varies from state to state. 24/7 Wall St. reviewed each state’s tax burden — […]

Sales Tax in Texas Higher Than Most States

Because sales tax is regressive — disproportionately affecting poorer residents — the decision to raise or lower the sales tax rate is often accompanied by intense debate. Still, last year, hundreds of cities and several states raised sales tax rates, although many others lowered rates as well. Sales taxes are levied by both state and […]

Gas Tax in Texas Among the Lowest in America

The federal government has some $51.4 billion in its coffers, primarily set aside for road construction and repair. These funds are raised from a federally imposed 18.4 cent tax on every gallon of gas purchased on American soil. On top of the federal tax, each state collects its own tax on every gallon of gas […]

Texas is America’s 7th Best Run State

Comparing the quality of governance between states can be challenging. The decisions state governors, legislators, city mayors and other elected officials make can have wide-reaching effects on state residents, and these decisions can sometimes take years to have an impact. Aware of these inherent challenges, 24/7 Wall St. has for seven straight years reviewed the […]

Marijuana Tax Revenue in Texas Could Be $755 Million

Four states and the District of Columbia have voted since 2012 to legalize the retail sale of marijuana. One main incentive of legalization is the tax revenue states receive from marijuana sales. The first two states to legalize marijuana — Colorado and Washington — began sales in 2014. After a slow start, tax revenues now […]

Texas is the 9th Most Expensive State to Drive

After housing, transportation is the average American’s second largest yearly expense. Gasoline, insurance, and car repairs cost the average driver more than $3,000 annually. A number of factors, such as gas prices and road infrastructure, determine the cost of owning and operating a car. These factors vary widely from state to state. To identify the […]

Texas Invests 13th Most in Higher Education

The total cost of attending college in the United States has risen dramatically in recent decades — faster than inflation and faster than wage growth.Government investments in public higher education can lower tuition expenses for college students, but many governments actually cut their education funding significantly when the recession hit. While in the last three […]

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