Exempts qualified space companies from franchise tax in Texas.

This bill amends the Texas Tax Code to exempt qualified space companies from the franchise tax. A qualified space company is defined as a corporation, partnership, or other business entity primarily engaged in the research, development, manufacturing, testing, or launching of satellites, spacecraft, space vehicles, or related technologies from locations in this state. The exemption applies to reports due on or after the effective date of the Act, which is January 1, 2026.

Exempts qualified space companies from franchise tax in Texas.

This bill amends the Texas Tax Code to exempt qualified space companies from the franchise tax. A qualified space company is defined as a corporation, partnership, or other business entity primarily engaged in the research, development, manufacturing, testing, or launching of satellites, spacecraft, space vehicles, or related technologies from locations in this state. The exemption applies to reports due on or after the effective date of the Act, which is January 1, 2026.