Texas collects most of its tax revenue on retail sales and various forms of business activity. Some taxes, however, commonly called "sin taxes," are levied on the sale of alcohol and tobacco products as well as activities related to gambling.
The spiraling cost of a college education — and the debt accompanying it — is on Americans' minds now more than ever. Students and their families have seen their tuition bills skyrocket, threatening the dream of college for many.
Texas' primary tax on business, the franchise tax, is an important revenue source for state government — and often a controversial one, given the Legislature's consistent focus on maintaining Texas' business-friendly reputation.