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re: La Tax credit program scores another major victory
Posted on 12/18/14 at 12:10 am to the808bass
Posted on 12/18/14 at 12:10 am to the808bass
quote:
So, if my company owe $100k in state taxes and my credits are $200k, the state writes a check to me for $100k?
Essentially, yes. It would be more like $80k and the accounting behind it would be a little more convoluted but yes that is how it works. It is a subsidy.
Why on Earth would the company have a tax liability that equals 25% of their EXPENSES? That would have to be one hell of a profit margin.
1
Posted on 12/18/14 at 12:33 am to Asgard Device
Meh on the language. People screw around with language on these issues. I'm concerned with dollars and cents.
It's not a flat 25% tax credit. It's on production expenses (not capital expenses, i.e) in the state of Louisiana and essentially 35% on payroll. And from what I could tell, the tax credit on payroll didn't apply to all staff. I might have misread that.
It would be good to evaluate these programs to ensure they are actually generating positive cash flow for the state government and actually encouraging long-term economic growth.
It's not a flat 25% tax credit. It's on production expenses (not capital expenses, i.e) in the state of Louisiana and essentially 35% on payroll. And from what I could tell, the tax credit on payroll didn't apply to all staff. I might have misread that.
It would be good to evaluate these programs to ensure they are actually generating positive cash flow for the state government and actually encouraging long-term economic growth.
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