Tax & Accounting Blog

District of Columbia Enacts A Cogeneration Equipment Exemption

District of Columbia Enacts A Cogeneration Equipment Exemption

The District of Columbia has enacted the “Cogeneration Equipment Personal Property Tax Exemption Emergency Act of 2012.” Cogeneration equipment, which is defined as equipment that produces both electric energy and useful heat or steam energy, is exempt when it serves developments of more than 1 million square feet and when the fuel used to generate … Read More

Georgia Transportation Tax Majorly Defeated

Georgia Transportation Tax Majorly Defeated

 Despite having the support of the Governor, Atlanta Mayor, and both chambers of commerce, the long proposed Transportation Special Purpose Local Option Sales Tax (T-SPLOST) was heavily rejected by all but three of the twelve specialty regions in a primary election.  In those three regions, residents will see an increase in their tax rates to … Read More

Additional Regulations On Partially Constructed Structures In Connecticut

Additional Regulations On Partially Constructed Structures In Connecticut

The Connecticut Legislature has updated and amended the Connecticut Code regarding property tax assessments.  The additions to the regulations are applicable to the assessment and taxation of partially constructed structures. Previously, Connecticut did not assess partially completed or under construction improvements. Pursuant to this new legislation, partially completed new construction will be assessed and taxed … Read More