Construction Fee Plus Form Withholding In Houston
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FAQ
Grocery stores and convenience stores not only sell food products, they also sell a wide variety of other items and services – some of them taxable, and others nontaxable. For example, flour, sugar, bread, milk, eggs, fruits, vegetables and similar groceries (food products) are not subject to Texas sales and use tax.
While there's no state income tax in Texas, there's a variety of other taxes you should make sure are taken care of. Currently, Texas unemployment insurance rates range from 0.25% to 6.25% with a taxable wage base of up to $9,000 per employee per year in 2025. Fun fact: the wage base has remained $9,000 since 1997.
Labor to repair, remodel, or restore residential real property is not taxable. Residential real property means family dwellings, including apartment complexes, nursing homes, iniums, and retirement homes. It does not include hotels or residential properties rented for periods of less than 30 days.
All charges for labor and materials to rebuild, replace, alter, modify or upgrade existing nonresidential realty are taxable.
The Texas Prompt Payment Act is designed to expedite payments and reduce financial disputes in the construction industry. It establishes deadlines for payments, addresses the consequences of late payments, and provides recourse for parties who do not receive timely payments.
New Construction. The labor for new construction is not taxable and the incorporated materials are taxable. The person or entity responsible for paying the tax depends on the type of contract used. As a contractor, you can bill your customers using either a lump-sum or a separated contract.
What is Retainage? Retainage is the withholding of a portion of the funds that are due to a contractor or subcontractor until the construction project is finished. It is meant to serve as a financial incentive and an assurance that the contractor will complete the project in a satisfactory manner.
Taxable Services Amusement Services. Cable Television Services and Bundled Cable Services. Credit Reporting Services. Data Processing Services. Debt Collection Services. Information Services. Insurance Services. Internet Access Services.
