Download Full eBooks in PDF
Tax Incentives Targeted To Distressed Areas Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Tax Incentives Targeted To Distressed Areas book. This book definitely worth reading, it is an incredibly well-written.
Author : United States. Congress. House. Committee on Ways and Means
Publisher : Unknown
Page : 756 pages
File Size : 53,5 Mb
Release : 1984
Category : Enterprise zones
ISBN : LOC:00008674917
Author : United States. Congress. House. Committee on Ways and Means
Publisher : Unknown
Page : 746 pages
File Size : 52,8 Mb
Release : 1984
Category : Enterprise zones
ISBN : UCR:31210012715056
Author : Daphne A. Kenyon,Adam H. Langley,Bethany P. Paquin
Publisher : Unknown
Page : 0 pages
File Size : 47,5 Mb
Release : 2012
Category : Electronic books
ISBN : 1558442332
The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.
Author : James Edward Maule,Tax Management Inc
Publisher : Unknown
Page : 128 pages
File Size : 45,6 Mb
Release : 2024-07-02
Category : Community development, Urban
ISBN : 1558719202
... brings together in one place analyses of the many income tax provisions designed to encourage business activity and investment in economically distressed areas. The portfolio separates the analyses into four categories. The portfolio also presents a history of the provisions as they have been added, expanded, and modified.
Author : United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management
Publisher : Unknown
Page : 198 pages
File Size : 55,9 Mb
Release : 1988
Category : Conservation of natural resources
ISBN : STANFORD:36105045287336
Author : United States. Congress. Senate. Committee on Finance
Publisher : Unknown
Page : 288 pages
File Size : 54,6 Mb
Release : 1992
Category : Business & Economics
ISBN : PSU:000019266329
Author : Anonim
Publisher : Unknown
Page : 74 pages
File Size : 46,8 Mb
Release : 1990
Category : Budget
ISBN : UIUC:30112105135393
Author : Anonim
Publisher : Unknown
Page : 108 pages
File Size : 53,8 Mb
Release : 1983
Category : Grants-in-aid
ISBN : PURD:32754050136120
Author : Anonim
Publisher : Unknown
Page : 96 pages
File Size : 55,6 Mb
Release : 1978
Category : United States
ISBN : WISC:89037848561
Author : Anonim
Publisher : Unknown
Page : 92 pages
File Size : 41,8 Mb
Release : 1978
Category : Government publications
ISBN : MINN:31951D029874522
Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher : Unknown
Page : 176 pages
File Size : 55,7 Mb
Release : 1999
Category : Business & Economics
ISBN : PSU:000043074952
Author : Richard J. Reeder
Publisher : Unknown
Page : 60 pages
File Size : 55,6 Mb
Release : 1993
Category : Enterprise zones, Rural
ISBN : UIUC:30112018923406
Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher : Unknown
Page : 348 pages
File Size : 40,6 Mb
Release : 1979
Category : Architecture
ISBN : PURD:32754077525164
Author : Anonim
Publisher : Unknown
Page : 192 pages
File Size : 41,5 Mb
Release : 1978
Category : United States
ISBN : UOM:39015008415971
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher : Unknown
Page : 976 pages
File Size : 53,5 Mb
Release : 1986
Category : Corporations
ISBN : PSU:000010596906