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Income Taxes › Economic Development

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Saul Ewing LLP

Opportunity Zone Regime Permanently Extended With New Benefits, Limitations, and Requirements, With a New Rural Focus

Saul Ewing LLP on

The Opportunity Zone regime, originally established in 2017, has been permanently extended by Public Law 119-21, "An Act to provide for reconciliation pursuant to Title II of H. Con Res. 14" (the "2025 Tax Law"). The...more

ArentFox Schiff

Potential Impacts of the ‘One Big Beautiful Bill’ on the District of Columbia

ArentFox Schiff on

The newly enacted “One Big Beautiful Bill,” formally known as the Legislation for Reconciliation and Policy Reforms 2025, contains a range of provisions that bear unique significance for the District of Columbia....more

Cozen O'Connor

Virginia Viewpoint: Executive Edits

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When the General Assembly reconvenes in Richmond next week, legislators will face a staggeringly full agenda. Ahead of Monday's 11:59 PM deadline, Governor Youngkin acted on more than 900 bills — vetoing 157, amending 159,...more

Foley & Lardner LLP

Mexican Government Announces Incentives in Support of Nearshoring

Foley & Lardner LLP on

On January 21, 2025, the Decree granting tax incentives in support of the national strategy known as “Plan Mexico,” to encourage new investments that promote dual training programs and innovation (Nearshoring Decree) was...more

Holland & Knight LLP

Nuevos estímulos fiscales como parte del Plan México

Holland & Knight LLP on

Como parte de la estrategia nacional denominada "Plan México", el 27 de noviembre de 2024, la presidenta Claudia Sheinbaum presentó diversas acciones para promover inversiones, generar empleos y promover el desarrollo...more

McGuireWoods Consulting

Governor Brian Kemp’s 2025 State of the State: Resilience, Progress, and Strengthening Georgia’s Future

McGuireWoods Consulting on

On Jan. 16, 2025, Gov. Brian Kemp delivered his 2025 State of the State address to the Georgia General Assembly, highlighting resilience and progress while outlining an agenda to strengthen Georgia’s economy and quality of...more

Holland & Knight LLP

Proyecto de reforma tributaria de Colombia 2024: Lo destacable y lo cuestionable

Holland & Knight LLP on

El Gobierno Nacional de Colombia radicó, estratégicamente, el proyecto de Ley de Financiamiento 2024, el 10 de septiembre de 2024, buscando con ello justificar el Presupuesto General de la Nación 2025 por $523 billones,...more

Freeman Law

Maquiladora Program

Freeman Law on

In 1964, the Mexican government introduced Maquiladoras as a strategy to attract foreign investment and increase industrialization on the Mexican border. Maquiladora’s process, produce, transform, or repair goods owned by...more

Haynsworth Sinkler Boyd, P.A.

HSB Economic Development Update - June 2022

Haynsworth Sinkler Boyd, P.A. on

The HSB Economic Development team published their June 2022 news update, highlighting the following topics: Big Changes to South Carolina Property Taxes and Incentives- The big political news in South Carolina this June...more

Haynsworth Sinkler Boyd, P.A.

HSB Economic Development Update – January 2022

Haynsworth Sinkler Boyd, P.A. on

The HSB Economic Development team published their January 2022 news update, highlighting the following topics: 2022 County Tiers Set for JTCs, Fee in Lieu and Tax Moratorium= Each year, South Carolina's 46 counties are...more

Burr & Forman

South Carolina Department of Revenue Releases the 2022 Job Tax Credit County Tier Rankings

Burr & Forman on

The South Carolina Department of Revenue (SC DOR) annually ranks and designates the state’s 46 counties into four tiers based upon unemployment rate and per capita income (See S.C. Code Section 12-6-3360(B). Tier designation...more

Benesch

Governor DeWine Signs Two-Year State Budget

Benesch on

Last week, Governor Mike DeWine signed the $74 billion state operating budget, which builds on the Governor’s vision for the future. The two-year spending bill (HB 110), includes nearly $162 billion in all funds...more

Gray Reed

The Tax Benefits of Research and Development Expenses (IRC Section 41)

Gray Reed on

Businesses are started with good ideas and a lot of hard work. Companies are sustained by applying that same hard work to the challenges and problems they face along the way.  ...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2021 West Virginia Legislative Update: Issue 6

Spilman Thomas & Battle, PLLC on

March 31, 2021 was "Cross-Over" Day at the West Virginia Legislature. This is the day when all bills must pass out of their house of origin and on to the other chamber. Historically, just over 23 percent of all bills clear...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2021 West Virginia Legislative Update: Issue 5

Spilman Thomas & Battle, PLLC on

Governor Justice has approved significant legislation protecting businesses from COVID-19 lawsuits, promoting the establishment of public charter schools, and increasing oversight of local boards of health. As of yesterday,...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2021 West Virginia Legislative Update: Issue 4

Spilman Thomas & Battle, PLLC on

After 28 days, and with more than 1,634 bills introduced, the West Virginia Legislature already has enacted significant legislation promoting the establishment of public charter schools, increasing oversight of local boards...more

Downs Rachlin Martin PLLC

Vermont Legislative Update 02-05-2021 - An analysis from DRM's Government & Public Affairs Team

Downs Rachlin Martin PLLC on

Project based TIFs would expand rural redevelopment - The Senate Committee on Economic Development, Housing and General Affairs is considering S.33, a bill that would allow more towns to apply for project-based tax...more

Lowndes

Important Year End Deadline for Opportunity Zones

Lowndes on

Opportunity zones provide a powerful tool for taxpayers to defer recognizing their capital gains if they roll over their investment into a qualified opportunity zone fund, and offer investors the potential of avoiding...more

Partridge Snow & Hahn LLP

Final Opportunity Zone Treasury Regulations Released

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On Thursday, December 19th, the U.S. Department of Treasury released the long-awaited final Opportunity Zone Treasury Regulations (the “Final Regulations”). The Final Regulations and explanatory materials that span 544 pages,...more

Womble Bond Dickinson

South Carolina Department of Revenue Announces Changes to County Tiers for 2020

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The South Carolina Department of Revenue has released the 2020 county tier rankings for all South Carolina counties. The rankings are reassessed each year and are determined in part by per capita income and unemployment rate...more

Bradley Arant Boult Cummings LLP

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

Bradley Arant Boult Cummings LLP on

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

Bricker Graydon LLP

H.B. 166 FY20-21 Biennium Budget Overview

Bricker Graydon LLP on

On July 17, 2019, after a 17-day delay, Governor Mike DeWine and the 133rd General Assembly completed work on House Bill (H.B.) 166, the state’s general operating budget for the biennium. It concludes several months of...more

Ballard Spahr LLP

Pennsylvania 2019 Tax Bill Adds Opportunity Zone Conformity for Personal Income Tax, Adopts New Sales Tax Provisions, and Amends...

Ballard Spahr LLP on

Act 13 of 2019 (Act 13), signed by Governor Wolf on June 28, 2019, made several changes to Pennsylvania tax laws, including the following significant changes. ...more

Womble Bond Dickinson

South Carolina Legislative Update: Job Tax Credit Increase

Womble Bond Dickinson on

On May 22, South Carolina Governor Henry McMaster signed into law H.B. 4243 , known colloquially as the “Panthers Bill,” as the primary buzz surrounding the bill arose from the provisions aimed at assisting the Carolina...more

McDermott Will & Schulte

Illinois Fiscal Year 2020 Income and Franchise Tax Changes

McDermott Will & Schulte on

The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike the no-deal chaos of past...more

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