ANNOUNCEMENT 01 Apr 2014

In April 2014, a US state government announced a targeted tax change.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx.
Christopher Keating, "UTC tax credit deal gets final OK," Hartford Courant (April 25, 2014).


Inception date: 01 Apr 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2014 the Connecticut General Assembly passed a bill that created sales and corporate tax credits for specific manufacturing companies. The new law, targeted specifically at United Technologies Corporation (UTC),allowed the company to claim up to $400 million in tax credits over five years. In exchange UTC must keep its headquarters in the state and must make $500 million investment to its various facilities in the state. 
 
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.
As no official source could be obtained, this measure is coded "amber".

AFFECTED SECTORS