House Bill 4087* (H.4087) advances income tax credits for corporate headquarters, recycling facilities, job development and retraining by amending the South Carolina Code of Laws to update portions of the South Carolina...more
The annual ‘IRS’ filing period is in full swing in Ohio--not only for federal income tax, but also for Ohio’s real property tax incentive programs. Yes, it’s Incentive Review Season for Ohio’s political subdivisions...more
A number of clients of my law firm, Tonkon Torp LLP, have asked about the recently-announced city of Portland business license tax break for signing a downtown Portland lease and about the Enterprise Zone tax exemption for...more
The chancellor’s 'mini-budget' on 23 September introduced some significant planning reforms. In a separate blog we discussed the new Investment Zones announced that will benefit from tax reliefs and liberalised planning laws....more
On June 22, 2022, Henry McMaster, the Governor of South Carolina, signed South Carolina Bill 901 (the “Bill”) into law. The Bill amends the Enterprise Zone Act of 1995’s section on Job Development Credits (JDCs), one of South...more
On December 26, 2019, in Matter of Mackenzie Hughes LLP v. New York State Tax Appeals Tribunal, the New York Supreme Court, Appellate Division, held that New York’s retroactive decertification of Qualified Empire Zone...more
Element Six, a manufacturer of synthetic diamonds, recently announced a new factory in Gresham, Oregon. It will spend $94 million over four years to build its new 60,000 square foot factory and will eventually employ...more
Business rates are charged on the majority of commercial properties, such as shops and offices, and represent one of the largest overheads for businesses. They are calculated using the rateable value of the property (the...more
Capital investment projects often involve tight margins, and every single dollar counts to ensure that the project is a success. For that reason, property tax exemptions are key components of any economic development...more
Issued earlier this month, a proposed rule from the Federal Housing Finance Agency considers updates to the Agency’s Enterprise housing goals. The rule applies to mortgages purchased by Fannie Mae and Freddie Mac for housing...more
The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of recent legislation around the U.S....more
Yesterday, Governor Brown signed into law AB 93, legislation that will institute two new tax exemption programs for manufacturing and bio-tech equipment, add a hiring credit for employment in specified geographic areas and...more
California's Enterprise Zone Act was promulgated "to stimulate business and industrial growth in the depressed areas of the state by relaxing regulatory controls that impede private investment" and to create a "strong,...more