Odessa businessman slams new state franchise tax hike
Odessa businessman Larry Hay of Permian Mack Sales and Service says the new state franchise tax is deadly for Texas firms. He reports his tax jumped from 1,800 to over 16,000 this year under the revised law that bases tax on capital or earned surplus. Accountant Edward Allen notes many clients face tripling or quadrupling in taxes, with broader business impact. The tax changes include a surtax tied to federal net taxable income and officer compensation, prompting concerns over business relocation and state attractiveness. The American Institute of CPAs comments on the new franchise tax.
MENTIONED IN THIS ARTICLE
Texas
Odessa
Larry Hay
Permian Mack Sales and Service Inc
Hay
Tor
Edward Allen
A Gambler’s Quiet Chronicle of Odds and Odds
The narrator catalogs a life shaped by risk and chance from farming roots to oil booms. He recalls early stock gambles yielding big returns, then diversifying into metals and odd ventures, while noting waning risk appetite and a cautious embrace of occasional lottery play. He has scratched 11 tickets, with one $2 win, planning small bets on a lark.
MENTIONED IN THIS ARTICLE
Nevada
Gomer Pyle
San Angelo
Odessa considers major tax overhaul to aid enterprise zone
Odessa officials on Wednesday backed a sweeping change to tax abatements for the city enterprise zone in south and central Odessa. The plan lets qualifying firms forgo back property taxes or cut future taxes or both, with size of investment and jobs helping determine abatements. The measure awaits Odessa City Council approval later this month and seeks support from other taxing entities.
MENTIONED IN THIS ARTICLE
Odessa
Odessa Enterprise Zone Committee
Neal McDonald
Odessa Chamber of Commerce
McDonald
Odessa Main Street
Gerald Gotcher
Gotcher
Bruce Cherry
Ector County
Ector County Independent School District
Ector County Hospital District
Meals On Wheels may be homeless in Odessa
Odessa Meals On Wheels faces displacement after learning its building at 615 N. Lee Ave is to be torn down by First Christian Church. The church plans demolition due to decay, with removal targeted by fall. Staff seek a new 1500 square foot location downtown near Medical Center Hospital, with parking for 14 cars, while 70 percent of the budget comes from the state to cover rent.
MENTIONED IN THIS ARTICLE
Odessa
Meals On Wheels
Sally Pond
First Christian Church
N. Lee Ave
Tom Pace
Pace
Pond
Medical Center Hospital
Betty Payne
Odessan receives life term for 1991 Cinco de Mayo slaying
An Odessa man, Jorge Luis Armendariz, was sentenced to life in prison by an Ector County jury for the 1991 shooting death of Ramon Olivas Carrillo on Cinco de Mayo. The conviction followed two days of testimony including a recorded exchange involving Armendariz’s sister and a man regarding the handgun used.
MENTIONED IN THIS ARTICLE
Odessa
Cinco de Mayo
Ector
Jorge Luis Armendariz
Ramon Olivas Carrillo
Tryon Lewis
161St District Court
Mike Griffin
Mark Ashley
Armendariz
Griffin
Jason Barrientes
Lewis
Robert Leahey
Barrientes
Mike Holmes
Carrillo
Veronica Carrillo
Also Mentioned on This Page
Ken Brodnax
American Institution of Certified Public Accountants
John Faught
Alex Segovia
Rotaflex
Grandview Avenue
Highland
The
Odessan
Man
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