Arkansas Tax and Incentive Updates, May, 2017 - view report

  • The Arkansas legislative session of 2017 included a bill that will sunset the InvestArk Sales/Use Tax Credit and instead offer an exemption for manufacturing partial repairs and replacement parts. While a welcome simplification of the Arkansas tax system, the loss of InvestArk will affect many Arkansas manufacturers. Eligible businesses should consider filing a final InvestArk application by June 30, 2017. Prior to the legislative sessions of 2017, Arkansas citizens voted for the Economic Development Issue 3.  The passage of Issue 3 ensures that local governments can fund economic development projects, provide funds for economic development services (with chambers, EDCs, etc.), and enter into regional contracts with neighboring governmental bodies to fund projects.  Furthermore, it removes the 5.0% budgetary cap on incenting large economic development projects, thereby allowing Arkansas to compete for more and larger projects.

Maryland Tax and Incentive Updates, May, 2017 - view report

  • On April 11, 2017, Governor Larry Hogan, along with Senate President Thomas V. “Mike” Miller and Speaker of the House Mike Busch, signed 120 bills into law following the conclusion of the 2017 session of the Maryland General Assembly. The final bill of the signing ceremony was the governor’s ‘More Jobs for Marylanders Act’ (SB 317), which was the centerpiece of the Governor’s Maryland Jobs Initiative. The tax incentive program makes existing business entities eligible for a credit against the state income tax; additionally, the incentive makes new business entities is eligible for (i) a credit against the state income tax; (ii) a credit against the state property tax; (iii) a sales and use tax refund; and (iv) a waiver of the corporate recording and filing fees.

New Jersey's BEIP Funding: Current Legislation Update, January, 2016 - view report

  • On January 11, 2016, a key bill regarding New Jersey’s Business Employment Incentive Program (BEIP) was passed and signed into law by Governor Christie. This bill represents a solution to unpaid BEIP rebates that New Jersey businesses have long been waiting for. The new law allows eligible companies to voluntarily convert grant funds into refundable tax credits, and demonstrates the states eagerness to fulfill its obligations to New Jersey companies and continue to partner in creating more business opportunities across the state.

Idaho Tax Reimbursement Incentive, December, 2015 - view report

  •  Historically, Idaho has relied on its quality of life to attract and retain companies. However, as evidenced across the country in a post-recession economy, states and communities must now compete more aggressively for jobs and capital. Companies with both global and national locations are reevaluating their current footprints, seeking operational efficiencies and cost savings. For example, the decision to invest capital to modernize a manufacturing plant could be made at a domestic facility or a facility on the other side of the world, and these kinds of decisions are not being made based primarily on the abundant availability of hunting, skiing, or hiking.

Made in Alabama Incentives: Current Legislation Update, October, 2015 - view report

  •  Key bills within the Made in Alabama Jobs Incentive Package have passed through the Alabama Legislature and have been signed into law by Governor Bentley. These bills represent the first meaningful revitalization of Alabama’s business incentives since the Tax Reform Act of 1992. The new incentives will allow the state to attract a mix of industries, including those that may create significant office jobs but invest less capital than the typical manufacturing projects on which Alabama has previously focused its pursuits.