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That article is working really hard to say that Apple is getting paid $845M. Are they not getting refunded that amount, or do they get paid that no matter whet
by LanceH 6y ago
That article is working really hard to say that Apple is getting paid $845M. Are they not getting refunded that amount, or do they get paid that no matter whether they bring the jobs or not? There really is a difference. A refund as a percentage amount indicates some positive increase in taxable income (though not necessarily enough to cover additional expenses).
Calling a rebate a payment is just a deliberate attempt to fan the flames. I'm all for not playing favorites, but articles could at least make an attempt at being accurate.
- londons_explore 6y ago> I'm all for not playing favorites The real way to not play favourites is to reduce the tax rate. Then everyone is getting a rebate. Everything else is just playing favourites.
- smachiz 6y agoIt's not favorites, it's bringing in net new revenue vs existing revenue. Much easier to give a discount to get something you don't have, then to give a discount to your existing base. Ask your revenue teams in whatever company you're at. No different for state taxes. This actually looks like a pretty good deal for NC, unlike when Amazon went about it in a distinctly Amazon way and pissed everyone off.
- londons_explore 6y agoWell in which case you write the tax law as "Tax is 5% for the first 5 years of the company in the state, and 10% after that". Then all companies, both big and small can take advantage. Obviously there are loopholes that would need to be closed before such a plan would work... But it's better than lawmakers striking deals with only their friends.
- Pfhreak 6y agoSurely you can see that reducing tax rates is itself playing favorites? The poor pay no taxes and many require the assistance those taxes provide. By reducing the tax rate you have negatively impacted the services those folk may require and given them no direct benefits. Some folks chant "taxes are theft" and others chant "austerity is theft", both deeply convinced that the other side just can't see the whole picture.
- shkkmo 6y agoA rebate is literally a payment (as opposed to a discount, which is not.) In this case though, I believe Apple is actually getting cash payments from their JDIG grant given how JDIG is officially described (neither rebate nor discount but literal kickbacks to apple from their employee taxes). [0] While those payments are conditional on Apple fulfulling their end by investing, they are just as much a real payment as any bonus based on performance. [0] https://www.nccommerce.com/grants-incentives/competitive-incentives/job-development-investment-grant https://www.nccommerce.com/grants-incentives/competitive-inc...