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How to get tax breaks for relocating your business

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The topic of this article is how to get tax breaks for relocating your business. Occasionally we hear in the news some story that talks about the pseudo scandal of a new huge business moving into a community, and the community giving that business some enormously obscene amount of money in the form of tax breaks. Some citizens might moan about the way that the country is falling apart and how everything is about money, money, money, and how could they introduce yet another Wal-Mart? But if your ears perk up at the mention of the words relocation, tax breaks, and local government, all in the same story, then you are probably a savvy business owner. And this article is for you, because you know that relocation, even to just another city, can be a major boon for your business.

There are actually a ton of different tax breaks out there that you can get if you relocate your business. A number of small, local communities offer tax breaks to businesses that move into their community so that they can build up their economic base and get more tax revenues.
Decide where you would potentially like to move your business, and then meet with local community leaders to see how much they are willing to court you and your business. States also offer a number of tax breaks for relocating businesses to particular areas. California, for example, offers substantial tax breaks to small businesses that move to areas that are traditionally considered to be blight areas, where there is not really any sort of economic activity. Such a move can be seriously beneficial to your business, since the amount of money you save through the tax breaks can balance the amount of money that you might lose through relocation, reestablishment, and the potentially poor economic standing or activity of the area that you move to.

You can find out what tax breaks the state offers by contacting the state Bureau of Commerce, or similar bureaucratic organization that is in charge of running the economy of a state and attracting new companies and industries. They can possibly guide you to communities that will be willing to give you further and more substantial tax breaks for your relocation. You also can go directly to the communities. Propose your plan for relocating-make sure that your presentation is as professional as it can possibly be. Let the community know how beneficial your location to this area can be for them, in terms of tax revenue, increased economic activity, a new service that isn't there, etc. etc. They then will probably be more willing to give you tax breaks, as long as you are an industry that they want. If you are a big box store, they might want you, and they might want. If you are a small business, try to find communities that are working on building up their small business base, because a lot of the time, they will give significant tax breaks to you to help you compete against larger chain stores.

Of course, this all sounds too good to be true, but there is a downside. Relocation is a time-consuming and complicated business. If you are relocating to another state or a community that is far away from where you currently live, you will have to uproot your family, which can be difficult if you have children. You will also be losing a loyal customer base, and you will have to start building a consumer base all over again, from scratch. There are chances that you won't make it in your new location. So think long and hard about relocating your business, and make sure that the tax breaks-a definite pro-balance out all of the cons.

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