Why do state governments do this? Public records show that large companies often pay little or no state income tax in states where they have large operations, as this column has documented. Some companies get discounts on property, sales and other taxes. So how to provide even more subsidies without writing a check? Simple. Let corporations keep the state income taxes deducted from their workers’ paychecks for up to 25 years.
Sounds like business bashing to me. State and other entities will offer (usually it's negotiated) a business a tax break as an incentive to locate in that state or town. Allowing the business to keep the money without "making the circuit" is more efficient and also allows the politicians to hate bait big business.
They ought to dump state income tax along with federal income tax out to sea.
It's not business-bashing, CO.
People who work at these companies should know the tax money withheld from their paychecks are NOT going to government, but right back into the pockets of the businesses for which they work.
That they don't know strikes me as not only sleazy, but fraudulent.
As far as tax "incentives" go, gimme a break with this bullsht as well. Other, already established businesses, are put into the position of having to support, by the payment of their own taxes, other companies competing for resources, employees, etc., sometimes those who are competitors of what they produce.
This is not "leveling the playing field"; this is unequal treatment under the law.
Oh. Crap.
What was I thinkin' ... this is the country we live in now.
