(New York Times) — To many manufacturing companies, the tax cut proposal now being considered in Washington may be just enough to spur additional spending and hiring. At Yushin America, a Rhode Island company that makes and maintains robotic manufacturing equipment, executives say that the business tax breaks would allow them to invest in new […]
(Wall Street Journal_ == Since the announcement of the deal by the White House and top Republicans to extend Bush-era tax cuts for two years and cut payroll taxes for one, taxpayers have been anxious to learn the fate of other tax breaks that have expired or are set to. Now there is news: The […]
(AJC) — A few months ago, filmmakers took over Greene’s Fine Foods in Decatur for a day. They turned the building into the fictional Daventry Hills City Hall for the Cartoon Network movie “Neverfail.” “I did it for the exposure,” owner Tommy Greene said. “And they offered to pay.” Greene received $1,000, a tiny portion […]
(New York Times) — By proposing to curtail the tax deduction for mortgage interest, the president’s deficit commission is sounding an alarm. The home mortgage deduction is one of the most widely used and expensive tax subsidies. More than 35 million Americans claim it, and the federal government estimates it will cost the Treasury $131 […]
(AJC) — The Georgia Supreme Court on Monday revived a lawsuit that claims a number of luxury Atlanta development projects have received unconstitutional tax breaks, costing the county millions of dollars in lost revenue. The 4-3 decision is a victory for John Sherman, president of the Fulton County Taxpayers Foundation. He filed the suit last […]
(Crain’s) — Builders of single-family to three-family houses in the city have one more year to finish the construction of their homes and take advantage of a tax break. Earlier this month, Gov. David Paterson signed into law a bill that gives homebuilders one more year to use a program known as 421b, which provides […]
(Washington Business Journal) — One week after the close of a campaign that featured copious rhetoric on fiscal responsibility, the D.C. Council got back to work by — introducing and adopting a series of tax breaks. The District may face upward of a $100 million shortfall in fiscal 2011, but never mind that. The council, […]
(Chicago Tribune) — State legislators should repeal a new law requiring Cook County senior citizens to prove each year that they are eligible for a special property tax break, commissioners said Wednesday. The Cook County Board unanimously passed a resolution urging the General Assembly to reverse that requirement, joining Mayor Richard Daley and the City […]
(Chicago Sun Times) — Pawel Witkowski is excited about his new job as a design consultant, and handled with aplomb his appearance at a news conference Monday to explain that the job came with a tax credit for small businesses. Witkowski’s employer, Wilmette-based de Giulio Kitchen Design, employs 45, so it was eligible to take […]
(Chicago Tribune) — Faced with a politically tricky situation, Gov. Pat Quinn on Sunday signed legislation to extend a popular property tax break for Cook County homeowners but that also requires senior citizens to reapply each year for a tax exemption. The law continues a 7 percent limit in annual growth of a home’s value for […]
(Chicago Tribune) — Chicagoans might like to think the producers of “Transformers 3” were drawn to Chicago by its arresting skyline, its capable talent pool and its good-natured willingness to put up with fireballs on Michigan Avenue and gun battles on Wacker Drive. But those local attributes only go so far. These days, movie producers […]
(Atlanta Business Chronicle) — Gov. Sonny Perdue vetoed two bills Tuesday championed by Republican legislative leaders as ways to give Georgia’s sagging economy a jump-start. On the final day for the GOP governor to act on legislation passed by the General Assembly this year, Perdue nixed the Jobs, Opportunity and Business Success Act of 2010, […]