News & Analysis as of

State Taxes Tax Incentives

Baker Donelson

Business Income and Sales/Use Taxes: What Constitutes a Manufacturer for Certain Tax Incentives

Baker Donelson on

Manufacturing, as often noted, is the backbone of the American economy. Manufacturers not only innovate and create products that contribute to the betterment of our way of life but are also critically fundamental to our...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Special Alert

State Agency Seeks Feedback on Targeted Georgia Tax Incentives - As the Georgia General Assembly works to assess the cost and effectiveness of the state's tax credits and exemptions, Georgia taxpayers have an opportunity...more

Blank Rome LLP

New York State Enacts Fiscal Year 2024–2025 Budget, New York City to Follow

Blank Rome LLP on

On April 20, 2024, 19 days after the April 1 deadline, New York Governor Kathy Hochul signed into law several bills, including A8809 / S8309 and A8806 / S8306 (collectively, the “Budget”), which enact into law New York...more

Blank Rome LLP

New Jersey Agency Required to Honor its Deal and Allow $26 Million in Tax Credits

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The Superior Court of New Jersey, Appellate Division, required the New Jersey Economic Development Authority (“EDA”) to “turn square corners” and certify $26 million in tax credits pursuant to its contract with a company...more

American Conference Institute (ACI)

[Event] 5th Conference on U.S.-China Trade Controls - October 12th - 13th, Washington, DC

As the only comprehensive, practical event of its kind in the Unites States, ACI is hosting the highly anticipated 5th Annual U.S.-China Trade Controls Conference, scheduled for October 12–13 in Washington, DC. Considering...more

Eversheds Sutherland (US) LLP

Georgia’s 2023 legislative session ends with significant tax legislation

During the 2023 legislative session, the Georgia General Assembly passed significant tax legislation including decoupling from IRC § 174, imposing sales tax on certain digital goods, and revising eligibility for the...more

CDF Labor Law LLP

Could States and Municipalities in California Use Taxes to Limit Remote Work in the Future?

CDF Labor Law LLP on

Many large California employers have been granted significant state and local tax incentives to establish the physical locations of their businesses in California, or within certain municipalities in California. These can...more

Baker Donelson

Alabama Extends Historic Preservation Tax Credit

Baker Donelson on

During the recent session, the Alabama Legislature passed House Bill 281, extending Alabama's historic preservation tax credit (the Credit) for an additional five years through 2027. The Credit began in 2013, has been...more

Rivkin Radler LLP

New York Is Getting Out Of The Zone, The Qualified Opportunity Zone, That Is

Rivkin Radler LLP on

New York’s Governor Cuomo is having a bad 2021. Some may attribute this to his hubris or to karma; others may point to an emboldened, and now veto-proof, progressive State Legislature; many will claim that Mr. Cuomo is paying...more

McDermott Will & Emery

Connecticut Bill Aims to Address the Impact of Telecommuting during the Pandemic

As we continue to face growing concerns because of the nationwide impact of COVID-19, taxpayers should be mindful of the potential impacts that the continued rise in telecommuting may have on their state personal income tax...more

Farella Braun + Martel LLP

Battery Energy Storage Systems Integrated in Solar Facilities To Receive Tax Incentives

Intermittency is one of the largest issues impeding increased reliance on energy from utility-scale renewable energy generation sources such as wind and solar. Battery energy storage systems (“BESSs”) can alleviate concerns...more

Bowditch & Dewey

Tax Incentives for Manufacturing Corporations

Bowditch & Dewey on

In these challenging times, businesses might seek to evaluate whether certain local tax incentives offered by the Commonwealth of Massachusetts are available to them. “Manufacturing Corporations,” for example, receive a...more

McAfee & Taft

Maintaining Oklahoma tax incentives after COVID-19

McAfee & Taft on

As businesses look to reopen and recover from the COVID-19 pandemic, they should be attentive to Oklahoma tax incentives previously awarded to them to ensure all requirements are met to continue to avail themselves of these...more

Skadden, Arps, Slate, Meagher & Flom LLP

State and Local Tax Considerations in Light of COVID-19

The first order of business for many state tax authorities in response to COVID-19 was deciding whether to extend their respective income tax filing and payment deadlines for the 2019 tax year, either automatically by...more

Bradley Arant Boult Cummings LLP

Business Council of Alabama and Birmingham Business Alliance Announce Their 2020 Tax/Economic Development Legislative Agendas -...

The influential Business Council of Alabama (BCA), founded in 1985, and the Birmingham Business Alliance (BBA), the state’s oldest and largest chamber of commerce, have each officially approved their 2020 legislative agendas....more

UB Greensfelder LLP

Opportunity Knocks Again in Ohio: New Tax Credit for Opportunity Zones

UB Greensfelder LLP on

On June 20, 2019, the Ohio Senate unanimously approved a state budget bill, House Bill 166, which includes a new tax credit for investments made into Ohio’s opportunity zones. Originally passed unanimously by the Ohio Senate...more

Bradley Arant Boult Cummings LLP

Proposed Updates to Alabama Business Tax Laws: Summary of the Financial Institution Excise Tax Reform Act of 2019 and Alabama...

Two landmark bills were introduced in the Alabama Legislature on April 11, potentially affecting numerous businesses in the state. Committees of the House of Representatives are expected to consider the Financial Institution...more

Rosenberg Martin Greenberg LLP

Can Cannabusinesses Qualify for the New Tax Incentives in Opportunity Zones?

One of the key provisions of the Tax Cuts and Jobs Act of 2017 was the creation of additional tax incentives for investment in opportunity zones. For those with significant unrealized gains, the potential deferral or...more

Bradley Arant Boult Cummings LLP

Three Things You Need to Know: How Trump’s “Tax Cuts and Jobs Act” Will Impact State Incentives and Project Recruitment - Economic...

As you may know, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), enacting broad reforms to the Internal Revenue Code. How your state implements these reforms may have an impact on project recruitment and...more

Adler Pollock & Sheehan P.C.

Charitable giving in a post-TCJA world: What you need to know in the wake of the new tax law

The Tax Cuts and Jobs Act (TCJA) will have a significant impact on estate planning and related aspects, such as charitable giving. Even though the TCJA reduces tax incentives for making charitable donations for some people,...more

Burr & Forman

South Carolina Department of Revenue Issues Draft Guidance for New Manufacturer Property Tax Valuation Discount

Burr & Forman on

South Carolina has some of the highest business property taxes in the Southeast, particularly for manufacturers. Property for manufacturers is taxed at: (1) the fair market value of land and buildings, and the depreciated...more

Burr & Forman

South Carolina Property Tax for New and Expanding Manufacturers: The Fee-In-Lieu of Tax Versus the Special Source Revenue Credit

Burr & Forman on

South Carolina has some of the highest business property taxes in the Southeast. The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Holland & Knight LLP

Six Tips for Tribal Governments to Reduce Tribal Member Taxes in 2018

Holland & Knight LLP on

• President Donald Trump on Dec. 22, 2017, signed the Tax Cuts and Jobs Act, the first major overhaul of the U.S. tax system in over 30 years. • Although few of the enacted provisions are specific to Indian Country, several...more

Sheppard Mullin Richter & Hampton LLP

Congress Passes Final Tax Reform Bill: U.S. Tax Reform: The Current State of Play

With the affirmative vote in the House today, both Houses of Congress have now passed a final version of the Tax Cuts and Jobs Act, clearing the legislation for President Trump’s signature. President Trump is widely expected...more

McDermott Will & Emery

Tax Breaks for Data Centers: The Numbers Might Be Cloudy

McDermott Will & Emery on

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

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