Our recent real estate and construction survey focused primarily on Metro Atlanta, but Georgia’s small towns are getting some attention, too. This year the State Legislature approved House Bill 73, a tax credit created to help revive fading rural towns. Known as the RURAL (Revitalizing Underdeveloped Rural Areas Legislation) bill, the intent behind the incentive is to build new opportunities for rural economic development.
The following quick reference chart provides a basic outline on how to calculate depreciation on certain improvements, equipment and/or tangible property and discusses what qualifies for bonus and/or Section 179. Further, it provides rules and definitions of qualified leasehold improvements, qualified restaurant property and qualified improvement property.
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Topics: Bonus Depreciation, Depreciation, Tax, Uncategorized
President Trump’s one-page tax reform plan issued in April set out four goals:
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Topics: Tax Proposal, tax reform, Update, 2017, Tax, Trump, Uncategorized
Louisiana, Massachusetts, Tennessee and Wyoming all recently announced changes that impact remote sales and economic nexus – details are below. Look for an update later this month from our sales & use tax group on the pending settlement of software issues.
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Topics: tennessee, louisiana, massachusetts, nexus, sales & use tax, Tax, Uncategorized, wyoming
One of the biggest hurdles to embracing technological change—including the IoT and beyond—is figuring out how to pay for it: 31 percent of surveyed manufacturers rank budget and resources as their biggest challenges to applying IoT capabilities.
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Topics: R&D tax credits, manufacturing, Tax, Uncategorized
The "border adjustment" tax proposal that is intended to boost exports over imports has several major U.S. corporations up in arms, which has put members of Congress under intense pressure from key corporate constituencies.
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Topics: Border Tax, Import Tariffs, International Tax, manufacturing, Tax, Uncategorized
Last year, over 6,000 manufacturers claimed more than an estimated $10 billion in research tax credits (RTCs), with each manufacturer’s average benefit exceeding $1 million. Generated in part by manufacturers’ efforts to develop new and improved products and processes, these benefits were also generated by their continued investment to develop or improve software to manage or automate production processes and business intelligence, among other things.
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Topics: manufacturers, manufacturing, software development, Tax, Uncategorized
Once upon a time, Georgians had to travel to Hollywood for a chance to catch a live glimpse of a movie star. These days, we're just as likely to spot a celebrity on the streets of Midtown, at a Dunwoody cafe, or on Jackson's town square. In 2016, 245 feature film and television productions were shot in Georgia, generating an economic impact of more than $7 billion and solidifying the state’s reputation as a place to cost- effectively staff and produce projects for the entertainment industry.
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Topics: Atlanta, Tax, Uncategorized
VAT is a consumer tax on goods and services in the E.U. (including the U.K.) and other foreign countries. The United States does not impose VAT on U.S. goods; instead, the U.S. adopted a sales and use tax system. We will focus on VAT for the purposes of this discussion.
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Topics: Tax, Uncategorized