GE wooed by Texas after Connecticut increases taxes

General Electric (GE) is expected to announce on Thursday that it is relocating its corporate headquarters from Connecticut to Boston. The move follows a contentious fight in Connecticut over the state’s corporate tax structure.. In 2015, governor dan malloy and the legislature pushed through a slew of corporate income tax increases.

Warren: GE Pays No Taxes. But the claim that it pays no federal income tax at all is disputed by GE. Moreover, aside from corporate income taxes, GE pays payroll taxes, state taxes and local taxes. So Warren’s blanket assertion that GE pays "nothing – zero – in taxes" is simply inaccurate.

Connecticut is different from other states in that it treats personal exemptions for state tax as tax credits. That means instead of deducting an amount from taxable income, Connecticut residents reduce their tax liability after it has been calculated. In general, Connecticut uses tax credits.

When Connecticut governor Dannel Malloy proposed $750 million in new business taxes last year as part of a $1.5 billion package of tax hikes, the state’s major companies weren’t amused. General Electric, in particular, questioned whether it would stay in Connecticut if the tax increases took effect. It turns out the company wasn’t bluffing.

GE strives to provide competitive employee benefits packages in the regions and industries in which we have a presence. Our wide range of employee services, retirement, health and other benefit plans are designed to help eligible employees make the best decisions for.

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 · Rachel is the corporate communications specialist for PrimePay. Before starting her career in the marketing world, she worked for a local TV news station writing for the website and handling the station’s social media platforms.

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Now Texas and Florida have. why they are the answer to rising taxes that general electric faces at its headquarters Connecticut. GE raised the possibility that the company may be ready to uproot.

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Taxes Chased GE Out of Connecticut. But get this: From the Connecticut governor’s office on down, Democratic officials argue that the GE move to Boston had nothing to do with taxes. Instead they say it was an effort to merge with Boston’s high-tech culture. There’s a grain of truth to this, although Connecticut does boast Yale, Wesleyan,

The industrial giant says it is moving 500 U.S. jobs overseas next year because it’s in "a difficult position" after Congress. tied GE’s shift to Europe for capital to its dispute with Connecticut.

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