Business & Occupation and sales tax incentives reduced state and local tax revenue by $236 million, according to the the Department of Revenue's annual "Descriptive Statistics for Tax Incentives" report.
Of this amount, $109.8 million is the sales tax deferral/exemption for high technology firms, $80.7 million stems from deferral/exemptions taken by rural manufacturers, and $23.8 million involves B&O tax credits taken by high technology firms.
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Sep. 3, 2010 at 9:42am Tax incentives save businesses $236 millionA total of 1,266 taxpayers employing 278,094 workers participated in incentive programs last year, according to the report, which provides wage and benefit information by industry. The report details information about incentives used by manufacturers of timber and wood products, fruit and vegetable processors, manufacturers of dairy and seafood products, agricultural products and cold storage operators. Click here for the full report. Plenty more in the Archives The comments function of the Business Examiner community is meant to encourage conversations and spark ideas about business issues in the South Sound. The feature is free and open to members of the public who register basic log in information. Comments should be concise, on topic and avoid attacks, profanity or abusive language or content. Comments that are deemed to violate this policy will be removed.
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