June 9, 2023 06:19 PMGOP Tax Bills Would Extend Bonus Depreciation, R&D Breaks
By Stephen K. Cooper
Amid rising concerns about opportunity zones' efficacy in addressing economic disparities in impoverished areas, lawmakers will propose legislative reforms this week requiring mandatory data reporting of opportunity zone investments in hopes of creating a more transparent and accountable system.
By Jaqueline McCool
A Missouri resort operator is required to pay a district tax on reservations of cottages because the tax applies to sales of tangible personal property and provisions of services, the state Department of Revenue said in a ruling.
By Dylan Moroses
The federal opportunity zone program is working as intended to drive investments into lower-income census tracts, but tax professionals say the rules around qualifying investments in operating businesses could be relaxed to fund more diverse projects.
By Jared Serre
Louisiana extended a tax credit program allowing transferable credits for certain investments until 2030 under a bill signed into law.
By Michael Nunes
Texas will be able to limit the taxable value of some commercial properties used by businesses to build or expand existing facilities if companies agree to meet certain capital investment and job creation criteria under a bill signed by Republican Gov. Greg Abbott.
By Zak Kostro
Oklahoma increased the maximum base amount of a tax credit for eligible film production expenditures under a bill signed by the governor.
While Democrats in Congress are well on their way to enacting an initial COVID-19 relief bill, they will face challenges when pivoting to President Joe Biden's Build Back Better goals for job creation and economic revitalization, say Russell Sullivan and Radha Mohan at Brownstein Hyatt.
The Internal Revenue Service's new notice relaxing deadlines and requirements for opportunity zone investors during the pandemic is helpful, but misses an opportunity to clarify important safe harbors, says Jessica Millett at Duval & Stachenfeld.
Future opportunity zone legislation should limit the capital gains requirement and broaden tax incentives to allow participation from currently excluded investors with deep connections to community revitalization, says Venroy July at Miles & Stockbridge.
June 6, 2023 05:03 PMIRS Urged To Let Qualified Opportunity Funds File Form Late
May 30, 2023 06:16 PMTexas Sets Process For Possible Local Child Care Tax Breaks
May 25, 2023 01:38 PMTexas Voters To Weigh In On Child Care Tax Break Proposal
May 19, 2023 01:13 PMIll. To Provide Tax Breaks For Construction Projects
May 17, 2023 06:34 PMTexas Lawmakers OK Local Tax Break For Child Care Property
May 9, 2023 06:49 PMMd. To Expand Film Production Tax Credit, Boost Annual Cap
May 9, 2023 11:31 AMGa. Extends Sales And Use Tax Break For Regional Projects
May 5, 2023 02:11 PMInd. Enables Coal Mine Reclamation Tax Credits Up To $5M
May 2, 2023 06:10 PMRI Senate Bill Would Phase In $250K Biz Property Tax Break
April 17, 2023 05:20 PMArk. To Provide Data Center Equipment Sales, Use Tax Break
April 13, 2023 05:02 PMND Creates Tax Break For Some Feedstock Refinery Materials
April 12, 2023 05:59 PMMd. Extends Sales Tax Break For Some Construction Material
April 10, 2023 02:31 PMArk. Lawmakers OK Tax Break For Water Transport Upgrades
April 5, 2023 04:26 PMWis. Senate Bill Seeks Sole Proprietor Employee Tax Credit
April 3, 2023 05:35 PMGa. Lawmakers OK Extended Tax Break For Regional Projects
March 30, 2023 05:39 PMNY Tax Tribunal OKs Cut To Couple's Enterprise Zone Credits
March 29, 2023 05:49 PMVa. Extends Sales, Use Tax Break For Data Center Operators
March 28, 2023 02:42 PMSD To Hike Property Tax Break For Local Development Corps.
March 22, 2023 01:40 PMOkla. Senate OKs Tax Exemption For New Hydrogen Makers