Credits and Incentives Impact on Business Location Decisions

Former Keiter Tax Senior Manager, Terry Barrett, shared her insights on how credits and incentives can attract businesses to a locality after Amazon announced it was seeking a second headquarters location (HQ2) and the advantages for businesses and localities alike in the July/August 2018 issue of VSCPA’s Disclosures Magazine article, “Credits, incentives and business location decisions.”

Excerpt:

When Amazon announced it was looking for a second headquarters location (HQ2) that would create up to 50,000 high-paying jobs, cities and states pulled out all the stops to put together  THE package to lure them in. What began as bids from 238 cities and regions from across 54 states, provinces, districts, and territories across North America is now down to 20 potential cities, including areas in Northern Virginia, Washington, Montgomery County, Md., and Raleigh, N.C., to name a few of the nearby locations. A decision is expected in 2018.

Each city/state proposed certain incentives, tax or otherwise, to attract HQ2.

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Source: VSCPA Disclosures Magazine

Additional State and Local Tax Resources:

“Supreme Court’s Wayfair Case Will Impact Virginia Businesses”

Effective Soon: Virginia Sales Tax Exemptions for Aircraft

North Carolina’s Machinery and Equipment Privilege Tax Becomes Inapplicable

State and Local Tax Obligations of Emerging Businesses

“Merging or acquiring? Don’t forget state and local taxes”

Federal Tax Reform: State and Local Implications

Tax Cuts and Jobs Act Overview