Tax Incentives

News & Analysis as of

NC Legislative Update - May 2016 #3

Last Week - The House released its 150-page proposed budget adjustments for the 2016-17 half of the 2015-17 biennium on Monday evening and proceeded to work through the week in passing it. The proposal is relatively...more

South Carolina Economic Development Incentives: Sales and Use Tax Exclusions and Exemptions

Sales Tax: In South Carolina, a 6% sales tax is imposed upon every person engaged within this State in the business of selling tangible personal property and other types of goods and services sold at retail. Voters in...more

NYC Extends Tax Credit Available to Biotech Companies

In late 2015, New York City Mayor Bill de Blasio signed into law a three-year extension of NYC’s biotechnology tax credit. The credit, which was set to expire on January 1, 2016, is now available through December 31, 2018....more

Early Stage Investment Tax Incentives Bill Introduced

As an update to our Legal Insight of December 2015 'New Tax Incentives for Early Stage Investment', on 16 March 2016 the Turnbull Government introduced legislation providing significant tax incentives to promote local and...more

New Tax Incentives for Indonesian REITs

On 29 March 2016, the Indonesian Coordinating Ministry of Economy officially announced the 11th Economic Policy Package (“11th Package”). The 11th Package outlines several policy changes, including lowering the tax rate on...more

Renewable Energy Update - March 2016 #3

Renewable Energy Focus - Davis and Yolo County take charge of electricity purchases - Sacramento Bee - Mar 21 - Yolo County and the City of Davis are joining a growing number of communities in California in...more

South Carolina Economic Development Incentives: Job Development Credit

South Carolina offers many statutory and discretionary incentives to promote capital investment and job creation in our state. The Job Development Credit (“JDC”) is a discretionary credit, applied through and approved by the...more

Union Construction Unrest at Tesla Gigafactory

The Salt Lake Tribune reports that 350 union affiliated construction workers walked off the job at the Tesla Gigafactory construction site in Northern Nevada, with about 100 of them reportedly actively picketing the project....more

China updates high and new technology enterprise tax rules: 5 key implications

The income tax reduction for high and new technology enterprises (HNTEs) is a key tax incentive available under current China tax laws and plays an important role in encouraging investment in high-tech and R&D areas. In late...more

Update: Serbian Film Tax Incentives

Introduced last year, and effective from 1 January 2016, the new incentive offered by the Serbian government is essentially a refund of 20% of the qualifying spend incurred by an investor – either an individual or a company –...more

Tax Breaks for Data Centers: The Numbers Might Be Cloudy

States are competing aggressively to attract data centers with various tax incentives. Data center companies and their business customers are taking them up on their offers. But are these incentives really a good deal for the...more

Qualified Small Business Stock Tax Incentives Made Permanent

What happened? On December 18, Congress passed and the President signed into law the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”), a measure that, among other things, retroactively renews, extends and...more

New Tax Incentives for Early Stage Investment

On 7 December 2015, the Federal Government released an Innovation Statement which included important tax concessions aimed at making early stage investment more attractive. The concessions are expected to commence from 1 July...more

Australian Tax Alert: Innovation Nation?

The Government's National Innovation & Science Agenda (Innovation Agenda), released on 7 December 2015, sets out a number of proposed changes aimed at improving the regulatory and tax landscape for start-ups in Australia....more

New Governmental Accounting Standards Board (“GASB”) Rules Require Governments to Disclose Tax Abatement Agreements in Financial...

State and local governmental entities (“Governments”) nationwide will soon face new financial statement disclosure requirements regarding existing tax incentive agreements. While the GASB encourages Governments to begin...more

Russia’s New Advanced Development Territories Law: Far East Focus

An initiative to spur investment in this underdeveloped region. Amid the ongoing loud noise surrounding the situation in Ukraine (and in Syria) and the related sanctions and counter-sanctions, a new Russian development...more

Energy Newsletter - October 2015

FERC Shares Best Practices for Stakeholder Outreach in Gas Project Permitting - The dramatic increase in domestic energy production over the past several years has resulted in the involvement of the Federal Energy...more

NC Legislative Update for October 2015

This Week - The North Carolina General Assembly has finally ADJOURNED! And they did so just after 4:00 in the morning on Wednesday September 30th, 2015. The close of the nine-month long 2015 session was met with a round...more

Angola's New Private Investment Law

On 11 August 2015, Angola's New Private Investment Law ("NPIL") came into force on its publication in Angola's Gazette, repealing the previous 2011 law. Like its predecessor, the NPIL sets out the rules applicable to...more

GASB Issues Final Rule on Financial Reporting of Tax Abatements

On August 15, 2015, the Government Accounting Standards Board (GASB) issued Statement No. 77 (the “Tax Abatement Standard”) concerning financial reporting of tax abatements and other economic development incentives that...more

NC Legislative Update for September 2015 #2

This Week - The sole focus for both chambers this week was the budget. Last weekend, budget writers from the two chambers remained in Raleigh over the Labor Day weekend to continue negotiations. Significant progress was...more

Arizona Rooftop Solar Regulations Highlight Distributed Generation Debate

Sunny Arizona is again in the middle of a nationwide debate between solar companies and utilities. Legislation adopted in March 2015, and which goes into effect on January 1, 2016, mandate certain disclosures and formats for...more

Electric Vehicles Continue Gaining Consumer Acceptance

As government mandates like Corporate Average Fuel Economy targets make electric cars more attractive to manufacturers looking to meet these standards, it is worth asking how consumers are responding to these vehicles as they...more

Should Companies Adjust Their Incentive Strategies in Light of New Governmental Accounting Disclosure Requirements?

Earlier this month, the Governmental Accounting Standards Board (GASB) approved Statement No. 77, Tax Abatement Disclosures, which requires state and local governments to report on foregone revenue from tax abatement...more

Tax Newsletter - May/June 2015 (China & Hong Kong)

The tax arena in both China and Hong Kong has been a buzz since the last issue of our Tax Newsletter. In this edition, we draw your attention to certain recent developments that may carry legal and tax implications for your...more

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