OT Tax Code Question
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OT Tax Code Question (by Deanna [TX]) Jan 13, 2021 9:37 PM
       OT Tax Code Question (by BRAD 20,000 [IN]) Jan 14, 2021 1:52 AM
       OT Tax Code Question (by myob [GA]) Jan 14, 2021 7:10 AM
       OT Tax Code Question (by Ray-N-Pa [PA]) Jan 14, 2021 8:36 AM
       OT Tax Code Question (by Allym [NJ]) Jan 14, 2021 10:28 AM
       OT Tax Code Question (by John... [MI]) Jan 14, 2021 11:14 AM
       OT Tax Code Question (by Marv [IL]) Jan 15, 2021 8:19 AM
       OT Tax Code Question (by pmh [TX]) Jan 15, 2021 5:06 PM

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OT Tax Code Question (by Deanna [TX]) Posted on: Jan 13, 2021 9:37 PM
Message:

Help me out here, smart people...

If someone said to you they wanted to run for mayor, and one of the things they want to do is to "change the Industrial sales tax code to a business tax code so we can use the money to make the down town look pretty. As in street lamps, and facade improvements."

what does he mean?

Obviously, I'm highly skeptical about "facade improvements", since all the buildings on Main Street are privately owned. Maybe someone might allow them to paint a mural on the side of their building, but I'm not seeing them do a full renovation of the facade.

But can you explain the bit about changing the industrial sales tax code to a business tax code? Our major employers are light industry, and we have almost zero retail business, fwiw. But I'm thinking of it from a zoning perspective, since I don't have experience with the tax code beyond knowing that, like, a percentage of hotel-motel tax is distributed amongst museums and other historical sites/preservation projects/tourist stuff. --137.118.xx.xxx




OT Tax Code Question (by BRAD 20,000 [IN]) Posted on: Jan 14, 2021 1:52 AM
Message:

Deanna,

I don't know how that stuff works.

Might be similar to this: Locally we have a thing called TIF Tax Increment Finanacing - Basically they convert the new tax revenue from a certain area, say a new housing development, and apply it to a certain area of town such as beefing up the industrial area to attract new businesses, or buying the abandoned shopping mall and turning it into a community / wellness / indoor sports center.

BRAD --73.102.xxx.xxx




OT Tax Code Question (by myob [GA]) Posted on: Jan 14, 2021 7:10 AM
Message:

Don't care the issue. When you said run for office-- what ever the future candidate says is a lie to get elected.

Learned that after 70 years. --99.103.xxx.xxx




OT Tax Code Question (by Ray-N-Pa [PA]) Posted on: Jan 14, 2021 8:36 AM
Message:

There is some value in having a nice streets that look appealing to some....but beauty is subjective.

Businesses will not relocate to the area unless it makes financial sense.

A main street with beautiful trees does not help if the buildings on Main street are empty.

So what does your main street look like? Are the stores full?

In one small town near me those wonderful small trees are now blocking the business signs and growing roots into storm drain pipes.

Added some flower boxes was a great idea but getting people together to keep them up is a challenge

NOW the reason for this post.......MOVE to Pa so I can VOTE for you.....I would absolutely do that. You are a straight shooter who takes a balanced and measured approach on things --24.101.xxx.xx




OT Tax Code Question (by Allym [NJ]) Posted on: Jan 14, 2021 10:28 AM
Message:

Tried to look this up but not much luck. State sales tax is a compilation of city, county and state tax rates. I don't see why an industry selling wholesale would have an industrial sales tax at all. They pay corporate taxes. Business sales tax sounds the same unless the person speaking means sales tax for local stores. Do you have sales tax if you go to a store to buy something? NJ is 6.63. If I buy birdseed at the food store I pay tax on it. If I buy it from the wholesale peanut folks it is considered food and no sales tax on food. I would say NO to anyone who wants to run for something and mention the word tax. Did you see NP whining about her father yesterday? That is my work. YOu don't have to thank ma fia. --71.104.xx.xxx




OT Tax Code Question (by John... [MI]) Posted on: Jan 14, 2021 11:14 AM
Message:

My GUESS is that you have things in place in your area so that if something is designated as tax income from "industrial", then it can only be used for certain things -- which doesn't include making the place look prettier.

So, they want to change that income to be classified as "business" tax income -- which maybe can be used for different things.

Again, that's just a guess though. I would think this would be a very local thing where you'd have to find it in your local regulations.

- John...

--64.25.xxx.xx




OT Tax Code Question (by Marv [IL]) Posted on: Jan 15, 2021 8:19 AM
Message:

YOu may be talking about "Tax increment financing". In this case, if I improve my commercial building, I get slapped with higher taxes. My building is in a TIF district (a Tax increment financing district). Any increase in my taxes stays in the tiff district for improvements such as new sidewalks and street lights. This system works well until there are too many Tiff districts nd the tax base of a city stops increasing. --67.184.xxx.xxx




OT Tax Code Question (by pmh [TX]) Posted on: Jan 15, 2021 5:06 PM
Message:

as Marv says. I have looked at several properties in the past - malls & hotels - for my owner. some in a TIF...onerous taxes and so a no go... --107.77.xxx.xx



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