Local Sales Tax
Local investments in business development are driven primarily by local revenue from sales taxes. In Texas, the state’s only major source of income is through sales tax, set at a rate of 6.25 percent. Local jurisdictions may impose a local sales tax on the sales of goods up to an additional 2 percent, for a total of 8.25 percent. Most incorporated communities in Texoma have a Type A or Type B economic development corporation, including Texoma’s largest communities of Sherman, Denison, Gainesville, and Bonham.
Source: Texas Comptroller of Public Accounts