IN THE NEWS
To submit news please contact us. Publisher must be a credible news source. THE FASHION & APPAREL INDUSTRY
TAX INCENTIVES
JANUARY 1, 2016
Targeted Industry Incentives
•Qualified Target Industry Tax Refund (QTI)
•Qualified Defense and Space Contractor Tax Refund (QDSC)
•Capital Investment Tax Credit (CITC)
•High Impact Performance Incentive Grant (HIPI)
Workforce Training Incentives
•Quick Response Training (QRT)
•Incumbent Worker Training Program (IWT)
Infrastructure Incentives
•Economic Development Transportation Fund
Special Opportunity Incentives
•Rural Incentives
•Urban Incentives
•Brownfield Incentives
2016 RESEARCH AND DEVELOPMENT TAX TIPS FOR APPAREL COMPANIES
JANUARY 26, 2016
As we neared the 2015 December holiday season, Congress was busy working on its annual gift package of new U.S. tax incentives and extenders of tax incentives that expired at the end of 2014. These incentives represent over fifty expired provisions and include such items as bonus depreciation, increases to the Sec. 179 deductions (expensing provision) and the research and development (R&D) credit. Usually these types of items are extended for one year and expire on December 31. The process then repeats every December going forward.
However, this past December Congress sent President Obama the year-end tax incentives package known as The Protecting Americans from Tax Hikes Act (PATH) of 2015, which he signed into law on December 18. One of the most important provisions of this new law is related to the R&D credit. Instead of just extending the current R&D provisions for one year as they have in the past, they expanded the law and made the R&D credit provisions permanent, which is very significant for proper tax planning.
RETAIL CHAINS FROM PUERTO RICO PUSH INTO FLORIDA
JULY 17, 2015
Retail chains from Puerto Rico are coming to a mall near you.
They're making an unprecedented push into Florida as the island's finances falter and the state's Puerto Rican population soars.
Veteran chains entering the U.S. mainland for the first time include Casa Febus Home, which sells housewares and furniture and debuted in Pembroke Pines Mall this month; National Lumber & Hardware, which opened in Lake Worth in late May; and El Meson Sandwiches, which set up in Orlando's Florida Mall in June.
Joining them are Valija bohemian-chic clothing stores, starting in Miami this summer and probably Pembroke Pines this winter; a value-oriented department store known in Florida as Lucky Me in Lauderhill Mall; and soon a boy's and men's clothing chain and a surf chain, executives said.