Maryland, Vermont and Washington have instituted methods aimed at determining whether their state tax incentives are functioning as intended and meeting their original goals and objectives, according to a fact sheet recently released by The Pew Charitable Trusts.
The Pew research looks at the evaluation process from three different angles: the economic impact of various state tax incentives, whether the state tax incentives are actually meeting their intended goals, and reviewing state tax incentives as part of the policymaking process.
Pew highlighted Louisiana, Massachusetts and Minnesota as examples of states that have done “high-quality evaluations” of tax incentives offered in their jurisdictions. These evaluations provide proof, using a cost-benefit analysis, of whether the tax incentive is actually having a positive economic impact on the state in terms of job creation.
As for implementing state tax incentive evaluations into the policymaking process, Oregon, Rhode Island and Washington have developed methods for reviewing their tax incentives on a regular basis to ensure their effectiveness overall, notes Pew.
For more information about state tax credits and incentives, check out Bloomberg BNA’s Credits and Incentives Portfolios.
In other developments . . .
South Dakota recently enacted a new tax credit for airplane kits, according to a Bloomberg BNA Weekly State Tax Reportarticle.
By: Kathleen Caggiano
Follow Kathleen on Twitter at: @katcaggiano .
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)