Texas bans new stock trading taxes ahead of its own exchange launch
Texas voters have approved a constitutional amendment that shields the state's stock market today from new taxes. This move comes as Texas prepares to launch its own stock exchange, the Texas Stock Exchange.
The amendment, House Joint Resolution 4, was introduced by Colonel Douglas Macgregor in early October 2025. It prohibits Texas from imposing new taxes on securities transactions and those working in or operating securities markets. The initiative was a preemptive measure against other states considering similar taxes during the COVID-19 pandemic, as per the bill's analysis.
The passage of this amendment aligns with Texas's plans to open its own stock exchange. The Texas Stock Exchange is set to provide a competitive alternative to established exchanges like the New York Stock Exchange and Nasdaq.
With the amendment in place, Texas has solidified its stance on stock trading taxes and is poised to welcome the Texas Stock Exchange. This development is expected to boost Texas's financial sector and attract more businesses to the state.
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