June Lunch Meeting Recap
The monthly AAIBO Membership Meeting was held at noon June 9th at Lytle Land and Cattle Company Restaurant. Thirty members heard local attorney/ CPA Phil Morehead discuss the Texas Margin Tax. Phil explained the basics of the tax and shared information on who must pay and how the tax is affecting corporations, LLC’s, and partnerships doing business in Texas. There were several questions from the audience as members responded to Phil’s information. No one is sure about other legislations or new regulations coming out of the Texas legislature this session since they just adjourned and information is just now filtering out on what was done. (For those members that did not get to attend the meeting, Phil has a handout of his power point that is available by contacting AAIBO.) After the membership meeting, the Board of AAIBO met and, among other things, elected Matt Parker and Joe Dan Kendrick to fill vacancies on the board. The next general membership and board meeting is scheduled for July 14 tentatively set for the Abilene Country Club.