The fact that Sandy Springs is the corporate headquarters of many large companies, like UPS and Newell Rubbermaid, as well as home to a myriad of small businesses is a key factor in keeping the economy and housing market stable. The City of Sandy Springs is well aware of this fact, and, in an attempt to keep these businesses happy as well as attract new ones, Sandy Springs is cutting taxes on businesses by about $1.3 million.
Two major companies were waiting to see if the tax cuts would pass before they made the decision to move to Sandy Springs, and so they should be opening shop in Sandy Springs in the near future, helping to create more jobs for the city.
The law passed in a unanimous vote on Tuesday, December 22, 2010, and it affects all businesses in Sandy Springs, big and small.
The new provisions inludes:
- Three cuts to the occupational tax
- The maximum amount a business can pay in any year has been lowered from $400,000 to $75,000
- Franchises pay taxes only on sales in Georgia
- 8% off the overall occupational tax for all businesses.
Basically, starting in January 2011, every business will save at least $300 on taxes – what a great present for the holiday season!
For more information about the tax cuts, check out this article from the Atlanta Journal-Constitution.
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