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PKF Texas: The Entrepreneur’s Playbook® – SALT tax

by | Aug 27, 2012 | PKF Texas - The Entrepreneur's Playbook®

Greg: This is PKF Texas – the Entrepreneur’s Playbook. I’m Greg Price, director of consulting solutions, and I’m here again with Mark Scimemi, our director of state and local tax at PKF Texas. So Mark, welcome back to the Playbook.

Mark: Thank you, sir.

Greg: So Mark, the last time you were here you were updating us on state and local taxes, or SALT as we call it. What’s been going on since the last time you were here us?

Mark: Well, we’ve had a really big win assisting one of the largest engineering firms on the planet, Fluor, selecting another site in Sugarland for the expansion of their current facility and the relocation of their current facility.

Greg: So are there particular steps that you took to assist them in this way?

Mark: Yes, there is sort of a best practice around this. It’s a three-step process. We helped Fluor with each step. The first step is to help them identify jurisdictions that would be a suitable place for their new development. We helped them there. Then we evaluate the incentives that are available in those jurisdictions and ask those jurisdictions to comment on those incentives, and then finally when a jurisdiction is selected, we negotiate with that jurisdiction the incentives that will ultimately win the project.

Greg: As a result of this work you did for Fluor, what was the outcome of this project?

Mark: There was a tremendous outcome. We were able to negotiate for Fluor some of the largest property tax abatements ever awarded in Fort Bend County and in the City of Sugarland, with all parties being very pleased. So Fort Bend County and the City of Sugarland with the outcome, and so was the company.

Greg: I can see how Fluor thought this was of great value to them and helps them with their operations. Can we have you back to talk about some other stuff you’re doing?

Mark: Sure, I’d love to.

Greg: All right, we’ll have you back on another edition.

Mark: Thank you.

Greg: All right. This has been another Thought Leader Production brought to you by PKF Texas – the Entrepreneur’s Playbook. Tune in next week for another chapter.

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