FALLS CHURCH, Va., Jan. 25 /PRNewswire-USNewswire/ -- Despite budget problems that may grow worse this year, states and localities continue to offer tax credits and other incentives for businesses to relocate within their borders and create jobs, according to the inaugural issue of "Practice Notes," a new column that appears in this week's State Tax Notes.
That's because, while states and localities need every dollar they can find to balance their budgets, they also need to encourage investment and job creation during these tough economic times, writes Cara Griffith, author of "Practice Notes," a former manager at PricewaterhouseCoopers LLP, and a former legal editor for State Tax Notes.
In offering these tax breaks, however, states want to make sure they get their money's worth, Griffith writes. Consequently, some states are more inclined to enforce clawback provisions, under which they can rescind the tax breaks if businesses do not fulfill their promises.
State Tax Notes is a product of Tax Analysts, the nonprofit publisher of other print and online tax publications.
To read the inaugural issue of "Practice Notes," go to Tax Analysts' Web site at www.TaxAnalysts.com.
About Tax Analysts:
Tax Analysts is an influential provider of tax news and analysis for the global community. Over 150,000 tax professionals in law and accounting firms, corporations, and government agencies rely on Tax Analysts' federal, state, and international content daily. Key products include Tax Notes, Tax Notes Today, State Tax Notes, State Tax Today, Tax Notes International, and Worldwide Tax Daily. Founded in 1970 as a nonprofit organization, Tax Analysts has the industry's largest tax-dedicated correspondent staff with more than 250 domestic and international correspondents. For more information and the latest news, visit our home page.
Wendy Lewis, (703) 533-4404
SOURCE Tax Analysts