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Hawaii Enterprise Zones

Hawaii Enterprise Zones

Hawaii Enterprise Zones

Tax Incentives for Hawaii Business

IncSmart Hawaii (Small Business and Startups) - Hawaii enterprise zones can help lower the cost of doing business in Hawaii.  The Enterprise Zones Partnership Program is giving state and county benefits in an effort to stimulate business activity, job preservation and job creation in areas of the state where jobs are most needed. Contact the state to see if your company or your startup meets the requirements.  Each county also offers additional benefits on top of those from the state.  The state offers 100% tax exemption.  Licensed contractors are also exempt from the state taxes on work done in the zones.  
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Connecticut Estate Tax

Connecticut Estate Tax

Connecticut Estate Tax

Public Pension Liability is Growing

IncSmart Connecticut (Small Business and Startups) - Connecticut Estate Tax is under scrutiny.  There is a proposal to the General Assembly to end the Death Tax to it's citizens.  Legislatures are looking for ways to reduce spending in the mist of the Estate Tax proposal.  However higher taxes on sales and income are on the table as well as tuition increases at UConn.  Up to 4000 state employees could be facing layoffs, with pay raises and payments to hospitals are on hold.  
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California to Tax Data from Social Media

California to Tax Data from Social Media

California to Tax Data from Social Media

Governor Newsom Planning Another Tax

IncSmart California  (Small Business and Startups) - California to tax data from Social Media internet companies.  They are exploring the financial value of data these internet companies collect on their customers.  Social Media is currently depending on the free trade of user data.  You give them information about you and they will let you use the service for free.  Silicon Valley is the home of data collection and information business.  
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Russian Company Invests in Kentucky

Russian Company Invests in Kentucky

Russian Company Invests in Kentucky

Appalachia Aluminum Mill

IncSmart Kentucky (Small Business and Startups) - Russian company invests in Kentucky.  The new mill is being built in the Appalachia area near Ashland on the tri state area of the Ohio River.   Construction will include hiring 1500 construction workers d.  After completion the firm will add an additional 650 full time employees.  The plants start date will be early 2021.  
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Nevada to Help Homeless Veterans

Nevada to Help Homeless Veterans

Nevada to Help Homeless Veterans

 Tiny Homes in Las Vegas

IncSmart Nevada (Small Business and Startups) - Nevada to help homeless veterans with recycled metal shipping containers by turning them into tiny homes.  The tiny homes are only about 200 square feet, and they contain a kitchen, living area, bedroom and shower.   Monthly rent on the homes will run about $650 with HUD's Veterans affairs paying for most of the rent, the out of cost money for the resident can be as low as $200 a month.  
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California Passes Homeless Tax

California Passes Homeless Tax

California Passes Homeless Tax

San Francisco Homeless Tax Measure

IncSmart California  (Small Business and Startups) - California Passes Homeless Tax. Approved ballot that would tax corporate business to fund services for the homeless.  This tax would double the funds that San Francisco currently has to battle the homeless problem in the city.  It will add 300 million dollars a year to fund housing and mental services.  This will be the largest tax in the cities history.  The tax rates are .175% to .69% on gross receipts.  Business with more than 1 billion in gross tax receipts will pay an additional 1.4% in payroll taxes.  
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Nevada Commerce Tax

Nevada Commerce Tax

Nevada Commerce Tax

Gross Revenue Must Exceed $4,000,000.00.

IncSmart Nevada (Small Business and Startups) - Effective July 1, 2015, NRS 360C, enacted by the 78th Nevada Legislature, imposed an annual Commerce Tax for the privilege of engaging in business in Nevada.  The taxable year is July 1 - June 30 and the tax rate is based on the business category in which the business in primarily engaged.  Each business entity engaging in business in Nevada is required to file a commerce Tax Return Annually.  However, a business will only have a tax liability if its Nevada gross revenue in a fiscal year exceeds $4,000,000.00.
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Washington to Raise Taxes for Homeless

Washington to Raise Taxes for Homeless

Washington to Raise Taxes for Homeless

Seattle Slams Amazon

IncSmart Washington (Small Business and Startups) - Washington to raise taxes on business for the Homeless.  Seattle to pay millions of dollars to help city deal with homeless problems.  The largest job creators in the city will be hit the hardest. The money will be spent on homeless shelters and affordable apartments for the 4000 plus people living on the streets.  
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Utah Opportunity Zones

Utah Opportunity Zones

Utah Opportunity Zones

Investments for Low Income Neighborhoods

IncSmart Utah (Small Business and Startups) - The Trump tax cuts have created Opportunity Zones for Utah.  Opportunity Zones create an incentive for growth in communities that are underdeveloped or poor neighborhoods.  Utah has 181 area, both rural and urban, that are eligible for the program.  The governor can only nominate 46 of these communities for these tax incentives that may attract long term development that currently lack infrastructure and jobs.
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Tax Incentive for Oregon Business

Tax Incentive for Oregon Business

Tax Incentive for Oregon Business

Take Action Before March 15

IncSmart Oregon (Small Business and Startups) - The new tax incentive for Oregon business has been created to drive investment in communities that have previously been hampered by a lack of access to capital.  The federal Tax Cuts and Jobs Act of 2017 allows Oregon’s Governor to nominate up to 86 Opportunity Zones in the state. The final selections will be made by the U.S. Department of Treasury from this list.  Under the new federal tax laws, investors with currently unrealized capital gains can move those gains tax deferred into an Opportunity Fund.  Opportunity Funds are expected to be created by Community Development Financial Institutions.


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Trump Defense Budget Good For Virginia

Trump Defense Budget Good For Virginia

Trump Defense Budget Good For Virginia

National Defense Authorization Act

IncSmart Virginia (Small Business and Startups) - Virginia ready for the new defense budget.  President Trump signed into law on December 12, a $700 billion defense budget.  The new budget is known as the National Defense Authorization Act.  The law funds new priorities for the military.  The budget includes $26 billion for 14 new ships, $6 billion for Virginia Class Submarines, and $5 billion for aircraft carriers. The navy at this time has 270 vessels and would grow to 355 ships with the new bill.  All reactors that will go into the nuclear carriers and submarines are built in Lynchburg.
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New Jersey Scrambles for Mars Candy Jobs

New Jersey Scrambles for Mars Candy Jobs

New Jersey Scrambles for Mars Candy Jobs

The New Jersey Economic Development Authority Offering Incentive Money

IncSmart New Jersey (Small Business and Startups) - New Jersey scrambles for Mars Candy jobs.  The candy company is considering moving over 200 jobs from Chicago to Newark.  This move will also consolidate the two existing locations already in New Jersey.  Mars Wrigley has also promised to invest $42 million in a leased Newark location and is considering an additional $52 million in a company owned building in Hacketstown.  Mars currently has more than 2,400 employees, five factories, and five corporate locations in Illinois.  The chocolate and a gum empire makes products such as M&Ms, Snickers, Juicy Fruit and Life Savers.  
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Colorado Hyperloop

Colorado Hyperloop

Colorado Hyperloop

200 MPH Tech Startup in Denver

IncSmart Colorado (Small Business and Startups) - Colorado Hyperloop in Denver to test 200 mph Hyperloop-inspired track with tech startup Arrivo.  Arrivo has partnered with the Colorado Department of Transportation to invest in a test track.  Cars can be driven onto one of the Arrivo pods for a ride. There are also passenger pods without vehicles.  The pods but can also be used to ship cargo containers and passenger shuttles.  Denver would be the first city in the world to get a hyperloop as a public transport system.
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Illinois County Rolls Out Soda Tax

Illinois County Rolls Out Soda Tax

Illinois County Rolls Out Soda Tax

Federal Food Stamp Benefits are Exempt 
 
IncSmart Illinois (Small Business and Startups) - Illinois county rolls out it's new soda tax.  The penny per ounce tax on sugared beverages went into affect August 1.  The tax applies to bottled sweetened beverages which includes soda, sports drinks, energy drinks, flavored water, and pre made sweetened coffee and tea with less than 50% milk content.  The tax makes soft drinks sold in Chicago among the most expensive in the country, joining the cities of Philadelphia and San Francisco. 
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