By Terry Barrett, CPA, Tax Senior Manager
Keiter Tax Senior Manager and Leader in Keiter’s State and Local Tax team, 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.
Questions on this topic? We can help. Contact a member of the State and Local Tax team or Email | 804.747.0000
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”
About the Author
Terry Barrett, CPA, Tax Senior Manager
Terry Barrett specializes in state and local tax concerns for her clients. She has over 30 years of experience working in the public and private accounting sector. She is a graduate of Virginia Commonwealth University.
More Insights from Terry BarrettThe information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
