|
||
How to get tax breaks for relocating your business
There are actually a ton of different tax breaks out there that you can get if you relocate your business.A number of small, local communities offer tax breaks to businesses that move into their community so that they can build up their economic base and get more tax revenues. You can find out what tax breaks the state offers by contacting the state Bureau of Commerce, or similar bureaucratic organization that is in charge of running the economy of a state and attracting new companies and industries.They can possibly guide you to communities that will be willing to give you further and more substantial tax breaks for your relocation.You also can go directly to the communities.Propose your plan for relocating-make sure that your presentation is as professional as it can possibly be.Let the community know how beneficial your location to this area can be for them, in terms of tax revenue, increased economic activity, a new service that isn't there, etc. etc.They then will probably be more willing to give you tax breaks, as long as you are an industry that they want.If you are a big box store, they might want you, and they might want.If you are a small business, try to find communities that are working on building up their small business base, because a lot of the time, they will give significant tax breaks to you to help you compete against larger chain stores. Of course, this all sounds too good to be true, but there is a downside.Relocation is a time-consuming and complicated business.If you are relocating to another state or a community that is far away from where you currently live, you will have to uproot your family, which can be difficult if you have children.You will also be losing a loyal customer base, and you will have to start building a consumer base all over again, from scratch.There are chances that you won't make it in your new location.So think long and hard about relocating your business, and make sure that the tax breaks-a definite pro-balance out all of the cons.
,
|
||
Copyright 2003-2020 by BusinessKnowledgeSource.com - All Rights Reserved
Privacy Policy, Terms of Use |