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Tax Reform Impact on Employers and Employees

Revit OpEd

Repeal of employee deduction and income exclusion for moving expenses: Under current law (Code Section 132(a)(6) and (g)), an employee can exclude qualified moving expense reimbursements from gross income. Certain of these expenses are not deductible unless, in aggregate, they exceed 2% of the employee’s adjusted gross income.

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Oregon Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

Oregon Capital Access (CAP) Program: The CAP helps lenders (banks and credit unions) make more commercial loans to small businesses and provides capital for start-up or expansion. Qualifying businesses may receive a credit against the business’ annual state income or corporate excise tax liability. loan origination fee.

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State by State Incentives Guide

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Income Tax Capital Credit: The Income Tax Capital Credit has been available since 1995. The credit is available to all types of business entities, including: S corporations, C corporations, limited liability companies (LLCs), partnerships, trust and sole proprietorships. The tax for existing entities accrues as of Jan.

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STATE INCENTIVES GUIDE

Buisness Facilities Contributed Content

INCOME TAX CAPITAL CREDIT: Currently codified as Article 7, Chapter 18, Title 40, Code of Alabama 1975. It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years.

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