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Texas – Filing Fees Waived for New Veteran Owned Businesses

Senate Bill 1049 signed by the governor June 4 and effective January 1 requires the secretary of state to waive all filing fees imposed under the Business Organizations Code and exempts from franchise tax an entity that is a new veteran-owned business until the earlier of the fifth anniversary of the date on which the entity was formed or the date the entity ceases to qualify as a new veteran-owned business.