Read verified reviews from business owners, find state/local incentives, and understand key decision data.
Farmers Branch offers all the perks of being located in a major city while still maintaining a small-town feel. Conveniently located in the heart of the DFW Metroplex, Farmers Branch has quick, easy access to two Interstates and two major tollways. Plus, we're only a 15-minute drive from both DFW Airport and Love Field. Farmers Branch is home to over 4,000 companies, including 250 corporate headquarters. With a sales tax exemption, property tax rebate, and other types of incentives, Farmers Branch is making it easier than ever to relocate and call Farmers Branch home.
The local sales tax rate in Farmers Branch, TX is 2%, while the state sales tax rate for Texas is 6.25%. In addition to these, Dallas County, where Farmers Branch is located, imposes a county sales tax rate of 1.75%. Therefore, the combined sales tax rate for Farmers Branch, TX is 10%.
As for corporate income tax and gross receipts tax, Texas does not impose a corporate income tax. However, the state does have a gross receipts tax known as the Texas Franchise Tax. The rate varies depending on the type of business, with most businesses paying a rate of 0.75% on their taxable margin. It's important to note that certain businesses may qualify for a lower rate or be exempt from this tax.
Regarding property taxes in Farmers Branch, TX, these rates are determined by different local entities. Commercial and industrial property taxes are typically assessed at the same rate as residential properties. The total property tax rate in Farmers Branch, which includes rates set by the city, county, school district, and other special districts, is approximately 2.5% of the property's assessed value. Personal property, which includes vehicles and other movable property, is also subject to tax, with rates varying based on the type and value of the property.
