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Texas Tax Code Chapter 313
Texas Tax Code Chapter 313 (aka the ''Texas Economic Development Act'') creates a state tax incentive program for certain large businesses to limit the appraised value of their property for the purposes of local Texas public school district property taxes. An appraised value limitation is an agreement between a taxpayer and a Texas school district in which the taxpayer proposes to build or install property—and create jobs meeting certain job and wage requirements—in exchange for a ten-year limitation on the taxpayer's property value for school district maintenance and operations tax (M&O) purposes. For ten years, school M&O property taxes are not levied on the value in excess of the limitation amount. Limitation amounts are established by statute and vary by school district from $10 million to $100 million. Unlike abatements based on a percentage of the property value, the structure of the program benefits primarily extremely large projects. The majority of projects are in the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Giga Texas
Gigafactory Texas (also known as Giga Texas or Gigafactory 5) is an automotive manufacturing facility near Austin, Texas built by Tesla, Inc. Construction began in July 2020, limited production of Model Y began before the end of 2021,The Tesla Cybertruck will be built in Texas and is getting an interplanetary update , 23 July 2020, and initial deliveries of vehicles built at the factory took place at an opening party called “Cyber Rodeo” on April 7, 2022. The factory is also planned to be the main factory for the |
United States Tax Law
The United States of America has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains, dividends, imports, estates and gifts, as well as various fees. In 2020, taxes collected by federal, state, and local governments amounted to 25.5% of GDP, below the OECD average of 33.5% of GDP. The United States had the seventh-lowest tax revenue-to-GDP ratio among OECD countries in 2020, with a higher ratio than Mexico, Colombia, Chile, Ireland, Costa Rica, and Turkey. Taxes fall much more heavily on labor income than on capital income. Divergent taxes and subsidies for different forms of income and spending can also constitute a form of indirect taxation of some activities over others. For example, individual spending on higher education can be said to be "taxed" at a high rate, compared to other forms of personal expenditure which are formally recognized as investments. Taxes are imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
