The Maryland Senate voted down an attempt to extend the quasi- public Injured Workers' Insurance Fund's exemption from the insurance premium tax Tuesday evening during a wide-ranging debate on budget issues. That move leaves the two chambers of the General Assembly in the same posture on the IWIF measure, which would be subject to the same 2 percent premium tax paid by other insurers, bringing it one step closer to passage.
Among the financial rewards available to qualifying Enterprise Zone businesses are job tax credits against either sales or corporate income taxes; sales tax refunds for business equipment and building materials; and sales tax exemptions on the purchase of electrical energy. Additional Urban Resources * Business Equipment Sales Tax Refund For sales taxes paid on the purchase of certain business property used exclusively in an Enterprise Zone for at least three years. * Building Materials Sales Tax Refund Applies to sales taxes paid on the purchase of building materials used to rehabilitate real property located in an Enterprise Zone. * Property Tax Credit, Corporate Income Tax * Credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved prop...
... credit on Florida corporate income tax, insurance premium tax or sales tax refund for donations made...
We are very focused on encouraging the redevelopment of our urban communities and we are dead set in making sure that we give incentives... to create jobs where people are," Gov. Jon S. Corzine said during a news conference last month. "Revitalizing our urban core communities, particularly around transportation locations, seems like smart policy to us. Pennsylvania's Keystone Opportunity Zone program exempts companies from sales and corporate business taxes for a period of time, he says, and New York's Empire Zone program offers tax credits equal to part of the cost of construction, plus a credit on the state's sales and corporate business tax. The credits would be applied to the corporate business tax, insurance premium tax or gross income tax liability over a 10-year period, accord...
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