David Brunori quoted in article “Certain state and local incentives will be treated as federal taxable income”Smart Incentives 01/24/18
Below is an excerpt:
Thousands of corporations throughout the United States receive various incentives from state and local governments. These incentives are aimed at fostering economic development and rewarding investment and job creation. Virtually every state offers economic incentives. And most corporations take advantage of them. The recently enacted Tax Cuts and Job Act will change the federal tax liability for many corporations receiving economic incentives.
David Brunori, Partner at Quarles & Brady, explains, "Those already receiving or contemplating non-tax incentives should consider the tax changes. And those governments handing out non-tax incentive may want to rethink their policies."