Certified businesses that construct a plant engaged in the manufacture of tiers or other related rubber or automotive products and enterprises owning or operating maritime fabrication and assembly facilities are eligible for up to 25 years in exemptions against corporate income tax arising from the project.
Michigan Data Center Sales and Use Tax Exemption Read More »
According to a press release on January 19, 2016, House Ways and Means Committee Chairman Kevin Brady (R-TX) announced that the Committee will hold its first hearing of the year Tuesday, January 26, 2016.
The hearing will focus on pro-growth policies that will help create jobs, increase paychecks, and expand opportunities.
2016 Tax Reform to be Considered by House Ways and Means Committee Read More »
As of January 4, 2016, the Georgia qualified education expense credit cap of $58 million for calendar year 2016 already has been reached. All applications received on January 4, 2016 were prorated down to $58 million. The proration percentage is anticipated to be 53.36%. The Department is in the process of mailing pre-approval letters for
Georgia Qualified Education Expense Credit Cap Announced Read More »
H.R. 2029 has been amended with the The Protecting Americans from Tax Hikes Act to both renew and expand various credit programs. In particular, the Work Opportunity Tax Credit program (WOTC) will be renewed for a period of 5 years, with a retroactive start date of January 1, 2015 through December 31, 2019. Also included in the renewal of WOTC is an expansion in which a new target group has been added to the existing 9 groups. The new target group is the long-term unemployment recipient, which includes individuals who have been receiving federal or state unemploy
Tax Credit Extenders Renewal Continues to Move Forward Read More »
The Alabama Jobs Act provides incentives to businesses for projects that create new jobs and whose predominant activity involves chemical manufacturing, data centers, engineering, design, research, or metal/machining technology, or for businesses that create jobs and have a base workforce of at least 50 new employees for all other projects. Unless the program is extended or expanded, project agreements must have been executed on or prior to December 31, 2019, with an aggregate balance of outstanding incentives not to exceed $850 million.
Companies may claim either or both of the following:
New Alabama Jobs Act Read More »
Although the Florida Enterprise Zone Act is scheduled to sunset on December 31, 2015, businesses may apply to the Florida Department of Economic Opportunity for the incentives associated with the Florida Enterprise Zone for an additional 3 years.
Businesses must satisfy the following criteria:
Florida Enterprise Zone Program Set to Expire — Take Advantage Now Read More »
Senate Finance Committee Chairman Ron Wyden (D-OR) led the Finance Committee yesterday to pass bi-partisan legislation renewing a set of provisions known as tax extenders that have expired or will expire at the end of this year. The bill, entitled the Expiring Provisions Improvement Reform and Efficiency Act (EXPIRE) was approved by bi-partisan voice vote.
Tax Extenders Legislative Update Read More »
As of January 1, 2015 Michigan eligible industrial and commercial personal property will be exempt from personal property tax.
Michigan Moves to Exempt Business Property from Personal Property Tax Read More »
Businesses choosing not to provide a health insurance plan directly to employees must provide reimbursement to employees for the premiums they pay for a qualified health insurance plan that they must acquire through either the health insurance exchange or independently. The IRS has posted FAQs that address the consequences of an employer reimbursing its employees for these premiums.
Health Insurance Exchange — Reimbursing Employee Premiums Read More »
On April 14, Rep. Dave Camp (R-MI), Vice Chairman of the Joint Committee on Taxation (JCT) and Chairman of the House Committee on Ways and Means, announced that Sen. Ron Wyden (D-OR) has been elected Chairman of the JCT for the remainder of the second session of the 113th Congress. The position was vacated by former Sen. Max Baucus, who resigned earlier this year to become the U.S. Ambassador to China.
House Elects New Chairman of JCT Read More »
