The Womble Carlyle Economic Development Digest - March 2014

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Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States.
In this week's Economic Development Digest:
National
  • Tax foundation publishes summary of 2014 state, local tax rates, TaxAnalysts.com (March 1, 2014)**
    The Tax Foundation published a report summarizing state and average local sales tax rates for 2014, reporting that Tennessee, Arkansas, Louisiana, Washington, and Oklahoma have the highest average combined rates, and noting that comparing state sales taxes is difficult because states apply different rates to different bases and sales taxes should be considered in context of a state's overall tax structure.
North Carolina
South Carolina
Virginia
  • Virginia allows property tax exemption for solar energy equipment, facilities, TaxAnalysts.com (March 17, 2014)**
    Virginia SB 418, signed into law as Chapter 259, includes business-owned or business-operated solar energy equipment, facilities, and devices that collect, generate, transfer, or store thermal or electrical energy in a class of pollution control equipment exempted from real and personal property tax.

**Note: a paid subscription is required to access this article. A brief description has been provided. Please contact Womble Carlyle’s Economic Development Team for more information on these developments.

 

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Published In:

Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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