“When you grow tired of Maryland taxes squeezing every dime out of your business, think Texas,” the radio advertisement on Maryland radio stations suggests at regular intervals. The ad is part of Governor Rick Perry’s campaign to lure businesses from other states, such as Maryland, to Texas, reports an article in the Baltimore Sun.
To entice businesses in Maryland and other states to move to Texas, Perry is also holding various recruitment sessions emphasizing the state’s favorable tax system.
In addition to having no corporate or individual income tax, Texas offers sales tax exemptions for machinery and equipment, as well as various property tax exemptions, notes the Texas Wide Open for Business website, which is the official brand for the Texas Economic Development Division.
Yet, those who choose to migrate to Texas may need to grow accustomed to gravel roads, which are replacing some damaged paved roads as a result of the highway department’s lack of funds, according to an article in the the Texas Tribune.
For more information about the tax credits and incentives available in Texas, check out Bloomberg BNA’s Credits and Incentives Portfolios.
In other developments . . .
Alabama recently adopted regulations for the new education tax credits provided for in the Alabama Accountability Act, according to a Bloomberg BNA Weekly State Tax Reportarticle by State Tax Law Editor Rebecca Helmes.
By: Kathleen Caggiano
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