Tag: Hibernia

Tax Code, Regulations and Guidance

Texas Tax Man Catches up with Leasehold Seller

June 23, 2023

Via: LexBlog

Texas, famously, does not tax individuals’ income, but it does impose franchise taxes on “taxable entities”, such as limited liability companies. Federal tax law treats them as partnerships unless they elect to be treated otherwise. In Hibernia Energy LLC v. […]