Download or read book Description and Analysis of Proposals Relating to Tax Incentives for Enterprise Zones H R 11 H R 23 and Other Proposals written by United States. Congress. Joint Committee on Taxation and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Proposals and Issues Relating to Tax Incentives for Enterprise Zones written by United States. Congress. Joint Committee on Taxation and published by . This book was released on 1992 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.
Download or read book Description of Proposals Relating to Middle Income Tax Relief and Economic Growth written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1991 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Incentives Targeted to Distressed Areas written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1984 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Description of Bills S 863 S 98 and S 634 Relating to Enterprise Zones written by United States. Congress. Joint Committee on Taxation and published by . This book was released on 1983 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Description of Revenue Provisions Contained in the President s Fiscal Year Budget Proposal written by and published by . This book was released on 2011 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Summary of Revenue Provisions in the President s Fiscal Year 1987 Budget Proposal written by and published by . This book was released on 1986 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Description of Revenue Provisions Contained in the President s Fiscal Year 2000 Budget Proposal written by and published by . This book was released on 1999 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The President s 1978 Tax Reduction and Reform Proposals written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1978 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Year 1991 Budget Proposals written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1990 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Incentives for Land Use Conservation and Preservation written by United States and published by . This book was released on 2003 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Summary of Administration s Revenue Proposals in the Fiscal Year 1985 Budget Proposal written by and published by . This book was released on 1984 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Description of Miscellaneous Tax Proposals Scheduled for Hearings Before the Subcommittee on Select Revenue Measures of the House Committee on Ways and Means on June 17 22 and 24 1993 written by and published by . This book was released on 1993 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Description of Enterprise Zone Proposals H R 6 and Administration Proposal written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monthly Catalog of United States Government Publications written by and published by . This book was released on 1984 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monthly Catalogue United States Public Documents written by and published by . This book was released on 1984 with total page 1252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
