When looking at the taxes and business costs listed below, easy to see why Texas consistently scores in CNBC’s top-3 states for doing business in the USA. Galveston County received a AAA bond rating in 2017.
No corporate income tax and no individual income tax
- 0.75% on gross receipts less cost of goods sold, or .3755% for retailers and wholesalers
- Sole proprietorships, general partnerships, businesses with revenue under $1.1 million are exempt
Combined State and Local Taxes Sales Taxes
- 6.25% Unincorporated Galveston County
- 7.25% Jamaica Beach
- 7.25% Tiki Island
- 7.75% Dickinson
- 7.75% Friendswood
- 8% Bayou Vista
- 8% League City
- 8.25% Galveston City
- 8.25% Clear Lake Shores
- 8.25% Hitchcock
- 8.25% Kemah
- 8.25% La Marque
- 8.25% Santa Fe
- 8.25% Texas City
Property Tax Rates
There are a total of 65 taxing entities within Galveston County. Each one sets their own property tax rate each year. The tax rates are per $100 dollars of appraised property value.
Workers Compensation Insurance
Texas is the only state that doesn’t require private companies to have workers’ compensation insurance.
- Wage Base is $9,000 for 2017.
- New employers use greater of the average rate for all employers in the NAICS code to which they belong or 2.7%.