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Illinois recently passed major new economic development legislation that is set to boost the state’s economic competitiveness. The incentives, signed into law by Governor JB Pritzker on February 3, provide stronger financial assistance for businesses to relocate to or expand in the state, and makes it easier for them to qualify for existing programs, particularly […]
IRS Provides Guidance on IRA’s Prevailing Wage and Apprenticeship Requirements and Construction/Installation Dates
November 30, 2022 | Business Credits
IRS Provides Guidance on IRA’s Prevailing Wage and Apprenticeship Requirements and Construction/Installation Dates (Notice 2022-61; IR-2022-208) Nov. 30, 2022 An IRS Notice provides guidance on the prevailing wage and apprenticeship requirements that the Inflation Reduction Act of 2022 (P.L. 117-169) added to several new and amended tax credits and deductions. The IRS also anticipates issuing […]
3rd Quarter 2022 Legislative Updates
Key Development that affected US state and local income/franchise and other business taxes for the third quarter of 2022. Iowa – certifies corporate income tax rate reduction starting in 2023 On March 1, 2022, Iowa Governor Kim Reynolds signed 2022 IA HF 2317, provisions of which provide for the reduction of corporate income tax rates […]
Illinois—Regulations on Construction Job Credits Adopted
February 17, 2022 | Business Credits
Feb. 17, 2022 Illinois adopted regulations that implement corporate and personal income tax credits for creating jobs in the state from: High Impact Business construction projects; Enterprise Zone construction projects; River Edge Redevelopment Zone construction projects; and Economic Development for a Growing Economy (EDGE) construction projects. What Do the Regulations Cover? The new and amended […]
Texas Tax Credit for Businesses
Texas has enacted a pilot program to provide a sales and use tax credit for businesses that employ apprentices. More information on the Texas Sales and Use Tax: Sales Tax Incentive for Employing Apprentices Offered Apprentice Sales Tax Incentive A $2,500 sales tax refund is available for each apprentice hired from a qualified apprenticeship program. […]
Ashmore Consulting is proud to join Pledge 1%, a global movement creating new normal where companies of all sizes integrate giving back into their culture and values. Pledge 1% empowers companies to donate 1% of product, 1% of equity, 1% of profit or 1% of employee time to causes of their choice. Over 1,500 companies in 40 countries have taken the Pledge and committed to give to communities around the world. Ashmore Consulting is excited to join Pledge 1%’s network of founders, entrepreneurs and companies around the globe that have committed to giving back.
