Texas SB1731 exempts corporations from the franchise tax if they operate a spaceport for national defense purposes.

Texas SB1731 amends the Tax Code to exempt corporations from the franchise tax if they operate a spaceport that is licensed by the Federal Aviation Administration and critical to a contract with the United States Department of Defense for spaceflight or launch services. The change applies to reports due after the act's effective date of September 1, 2025.

Texas SB1731 exempts corporations from the franchise tax if they operate a spaceport for national defense purposes.

Texas SB1731 amends the Tax Code to exempt corporations from the franchise tax if they operate a spaceport that is licensed by the Federal Aviation Administration and critical to a contract with the United States Department of Defense for spaceflight or launch services. The change applies to reports due after the act's effective date of September 1, 2025.