State Tax Cut Trend

March 4, 2022

As of March 4, 2022 Georgia proposes to move to a 5.25 percent flat tax; A plan out of Idaho picking up speed that would eliminate all property taxes except for bonds and school levies and make up the lost revenue with an increase to the sales tax; A Nebraska bill that would cut both the personal and corporate […]

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Illinois—Regulations on Construction Job Credits Adopted

February 17, 2022

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 […]

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Connecticut Governor Announces Tax Package

February 13, 2022

Feb. 3, 2022 Connecticut Gov. Ned Lamont announced a package of tax proposals that would: accelerate the phase-in of the personal income tax exemption for pension and annuity income; expand the corporation business tax credit for student loan repayments by employers; restore eligibility for the property tax credit to all personal income taxpayers and increase the credit; […]

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Pinellas County, Florida: Industrial Site Development Funding

February 8, 2022

New Application Window Open for Office and Industrial Site Development Funding in Pinellas County, Florida Pinellas County has committed funds in excess of $80 million for its Employment Sites Program to provide capital for the construction or redevelopment of office buildings and industrial (manufacturing & flex) sites where projects support economic growth and job creation […]

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New Jersey-Corporate, Personal Income Taxes:  Bill Expanding Film & Digital Media Tax Credit Program Signed

January 22, 2022

New Jersey Governor (Gov.) Phil Murphy signed legislation (S-4094/A-6070) that expands digital media production tax credits, bolstering the implementation of the New Jersey Film & Digital Media Tax Credit Program. Under the legislation, the amount of the digital media content production portion of the tax credit program is increased while maintaining the overall cap on tax […]

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