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Started By
Message
re: 20 year Tax Incentives that landed Buc-ee's in Ruston.
Posted on 1/27/23 at 8:26 am to 50_Tiger
Posted on 1/27/23 at 8:26 am to 50_Tiger
quote:
More importantly so decent wage paying jobs for that area.
I think this is what a lot of posters are missing here. There will be good jobs for the locals which improves the local economy. Louisiana seems to always miss this point when dealing with companies that want to do business in the state.
Posted on 1/27/23 at 8:28 am to el Gaucho
quote:Clean shitters are worth it, hand.
Shows that north Louisiana is basically Yankees now since they’re rolling over for a carpetbagger yankee Texas gas station
Posted on 1/27/23 at 9:05 am to baldona
quote:
How does this work? Sales tax is a collected liablity, its not something that costs any business anything? So they are literally paying Buccees their sales tax revenue to be there? Is that the general idea?
I've done two of these exact deals in the last 6 months. It's an incentive to locate in a certain area. Buccees will collect and remit the tax and then either quarterly or annually will request reimbursement from the relevant jurisdiction.
Edit: and it's a portion of the sales tax revenue based on the article, which is standard. I would guess it's something like Buccees receives a 70% rebate on all of their tax collected
This post was edited on 1/27/23 at 9:07 am
Posted on 1/27/23 at 9:30 am to Willie Stroker
quote:
If all sales tax and property tax is being refunded, what’s the source of revenue that leads to
It’s a long play, but 20 years from now they’ll get a significant source of revenue from sales tax and property tax.
In the short term they’ll provide 200 decent paying jobs to folks that will spend more of their disposable income in their parish and city.
There are a lot of indirect ways that Buc-ee’s will benefit the area. Also, I’m wondering if federal funding looks at specific areas where a lot of their federal payroll tax revenue and fuel tax comes from when deciding on how to allocate funds geographically.
Posted on 1/27/23 at 9:55 am to Willie Stroker
quote:
I suppose local businesses might sell their products through Buc-ees and new customers who might not otherwise make these purchases will now impulse buy at Buc-ees?
Maybe the city’s vehicle fleet will be charged less for gas at Buc-ees?
So they still have payroll taxes and income taxes on all their employees and yes taxes they will pay toward other vendors. Or taxes to companies that will do repair and maintenance. I doubt some people will drive down from texas to fix the broken ac. they will prob use someone local.
Posted on 1/27/23 at 9:57 am to billjamin
quote:
Subsidized gas stations
How do you think we would get any viable ev operation going?
Posted on 1/27/23 at 9:59 am to dgnx6
quote:
So they still have payroll taxes and income taxes on all their employees
Neither of those go to any of the taxing jurisdictions granting incentives. The play is the total economic impact Buccees will have. That comes through other businesses building/expanding in the area, good jobs that lead to more spending and increased property value, etc.
And, again, part of the tax collected by Buccees will still go to the City and Parish, my guess is probably 30% or so, but I couldnt find the actual agreement to read. In Texas they're public record.
Posted on 1/27/23 at 10:25 am to Witty_Username
best place to stop in monroe west monroe. No lottery beer wine or smokes. they have great food. Dont have to fight the gambling drunk idiots.
Posted on 1/27/23 at 10:27 am to White Bear
quote:
Shows that north Louisiana is basically Yankees now since they’re rolling over for a carpetbagger yankee Texas gas station
quote:He's just jealous that NorLa won a prize that SouLa can't match. The jealousy is palpable and probably leaves him with a now permanent bitter/sour taste in his oversized jowls.
Clean shitters are worth it, hand.
Posted on 1/27/23 at 10:34 am to Willie Stroker
All the other shite that comes with it. Employees paying taxes, other businesses setting up shop next to them (restaurants, etc.) collecting once the incentives are up, etc.
Posted on 1/27/23 at 10:35 am to boudinman
That's one gas station I'll know I'll never visit.
Posted on 1/27/23 at 10:36 am to Witty_Username
quote:expensive as shite sammies but damn if they arent good.
Daily Press
Posted on 1/27/23 at 10:36 am to Witty_Username
quote:
Or since Buc-ees isn't opening up for 2 years, they could use that time to revamp their store, create their own brand/style, and try to compete.
Try to compete? When your competitor isn't paying 9% sales tax or property taxes in an industry with razor thin margins? Yep. That's going to happen.
Posted on 1/27/23 at 10:41 am to jbgleason
There will be a couple survivors from the people that just dont want to deal with the hassle of buccee's. I pass two everytime I go to Louisiana to visit family. Unless I have to take a dump I stop elsewhere so I dont have to deal with the people/traffic.
Posted on 1/27/23 at 10:49 am to jbgleason
quote:
Try to compete? When your competitor isn't paying 9% sales tax or property taxes in an industry with razor thin margins? Yep. That's going to happen.
Sales tax is collected as an agent of the state, it shouldn't make any difference on your margins in theory. Property tax will, but if you shut down because of your property tax assessment, you're going to fail anyway.
The incentives are absolutely a competitive advantage, but it's because it puts cash back into Buccees pockets, it's not a margins win.
Posted on 1/27/23 at 10:59 am to The Top G
Lincoln Parish Journal
I had to scroll for an 30 minutes to find it, but for anyone interested, its a really good breakdown. The article was posted on Jan 19th.
I had to scroll for an 30 minutes to find it, but for anyone interested, its a really good breakdown. The article was posted on Jan 19th.
quote:
Lincoln Parish will surrender 5.75% sales tax for the first 20 years of Buc-ee’s existence in Ruston. Where does that total come from?
0.25 percent from the Lincoln Parish Sheriff’s Department
0.75 percent from the Lincoln Parish Police Jury 2.75 percent from the City of Ruston
2.00 percent from the Economic Development District
quote:
Walker also made note that the city really is only surrendering .97 percent thanks to Ruston’s participation within the state’s tax incremental district.According to Walker, the tax incremental tax district runs parallel along I-20 and the state receives 4.5 percent sales tax for any businesses located within that footprint. The state then in turn sends back 40 percent of that total (1.78 percent) that Ruston can use for work only within that tax incremental district footprint (roads, bridges, water, sewer, electricity).
quote:
Walker also noted that Buc-ee’s will provide $250,000 to the City of Ruston within 30 days of opening the travel center to the general public to be used at the discretion of the City. Walker said $200,000 of it would go towards the Ruston Sports Complex.
Posted on 1/27/23 at 11:05 am to el Gaucho
quote:
Shows that north Louisiana is basically Yankees now since they’re rolling over for a carpetbagger yankee Texas gas station
Every post has a top dumbass,...you it.
Posted on 1/27/23 at 11:09 am to Willie Stroker
quote:
I suppose local businesses might sell their products through Buc-ees and new customers who might not otherwise make these purchases will now impulse buy at Buc-ees?
Maybe the city’s vehicle fleet will be charged less for gas at Buc-ees?
You drastically increase the property values around it. Not everyone will want Buccees food for example, there's some other businesses that will want to be next to the Bucees just to get the drive by traffic. Maybe a taco bell or something similar that sells fast food that Bucees doesn't sell.
But mostly its the jobs and as said the vendor work. Lot of contractors will go there for repairs, supplies, etc. More jobs is almost always better then no jobs.
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