United States: Economic Development Digest (January 26, 2016)

Womble Carlyle's Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States.

In this week's Economic Development Digest:

Georgia

• Georgia DOR amends sales tax rule on energy for manufacturing, TaxAnalysts.com (January 4, 2016)**
  The Georgia Department of Revenue has amended a sales tax rule on energy necessary and integral to manufacturing to clarify the statutory definition of energy, the taxable use of energy at a manufacturing plant, the exempt use of energy at a manufacturing plant, and the energy exemption created by the Transportation Funding Act of 2015.

Maryland

• Hogan says he'll seek tax cuts, The Baltimore Sun (January 7, 2016)
  Maryland Gov. Larry Hogan proposes $400 million in tax cuts over the next five years (highlights include a $1.1 billion "rainy day fund", $6.3 billion for K-12 education, $314 million in new funding for school construction and $2 billion for "shovel-ready" infrastructure projects, including fixing every structurally deficient bridge in the State).
• Maryland tax structure an impediment to business, TaxAnalysts.com (January 26, 2016)**
  The prosperity of Maryland businesses will, in most instances, lead to the creation of jobs for the State's citizens.

North Carolina

• Why Virginia's governor wants to emulate North Carolina, Triangle Business Journal (December 16, 2015)
  Virginia Governor Terry McAuliffe says his proposal to lower Virginia's corporate tax rate in 2017 is a direct response to North Carolina's efforts to lower its corporate tax rate in 2013 and 2015.
• Wake Tech takes steps forward for new RTP campus, Triangle Business Journal (January 5, 2016)
  The new $47 million Wake Technical Community College campus in Research Triangle Park will offer classes specializing in information technology.
• Womble Carlyle Launches Strategic Initiatives Group; Entrepreneur, Former Google Executive Rhett Weiss to Lead New Team, wcsr.com (December 9, 2015)
  Womble Carlyle creates the Strategic Initiatives Group (SIG), a business consulting practice focused on helping companies identify and secure corporate development opportunities, create or acquire mission-critical facilities, and solve business challenges along the way.

South Carolina

• South Carolina DOR publishes per capita income figures for tax incentives with job requirements, TaxAnalysts.com (December 14, 2015)**
  The South Carolina Department of Revenue has published an information letter containing the most recent state and county per capita income figures to help taxpayers determine whether they have met the per capita income requirements to qualify for state tax credits and incentives.

Virginia

• Are we there yet?, Virginia Business (December 31, 2015)
  Virginia evaluates transportation needs, and related funding, as it enters a new year.
• Manufacturer's alternative for single sales factor apportionment, Virginia Department of Taxation (January 19, 2016)
  Qualifying manufacturers may elect to use a single sales factor for taxable years beginning on and after July 1, 2015, which will be computed on the Single Factor Computations line on Schedule 500A.
• Mandatory single sales factor phase-in for retail companies, Virginia Department of Taxation (January 19, 2016)
  For taxable years beginning on or after July 1, 2014 but before July 1, 2015, retail companies must use a quadruple-weighted sales factor. Retail companies will be required to use single sales factor apportionment for taxable years beginning on or after July 1, 2015.

Washington D.C.

• D.C. Council bill aims to require living wage for economic development tax breaks, Washington Business Journal (January 7, 2016)
  Companies that benefit from generous tax breaks would be required to pay their workers a living wage under proposed legislation now in front of the D.C. Council.
• A 'port authority' for Greater Washington? Some say it's an idea to consider, Washington Business Journal (January 21, 2016)
  Jim Corcoran, president and CEO of the Northern Virginia Chamber of Commerce is helping to set up a regional transportation working group to research and explore the idea of an agency modeled after organizations such as Port Authority of New York and New Jersey as part of an effort to ease gridlock in Greater Washington.

West Virginia

• Jobs, lagging tax revenue discussed in session look ahead, Charleston Gazette-Mail (January 8, 2016)
  Job growth in West Virginia and funding for infrastructure related projects are main focuses of the 2016 West Virginia Associated Press Lookahead.

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