Author: Gregory Allison (page 2 of 2)

Are You Sure We Don’t Have Tax Abatements?

Tax Abatement, visual by Ruth Lerner

Tax Abatement, visual by Ruth Lerner

I’m here to help alleviate fears.  In August 2015, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 77, Tax Abatement Disclosures.  The guidance, which if it were applicable to North Carolina governments, would be effective for fiscal year end June 30, 2017.  The requirements are relatively simple – if a government has any tax abatement agreements, as defined in the standard, there are certain note disclosure requirements that must be made regarding the agreement(s). A tax abatement in is defined in the standard as follows: Continue reading

Welcome!

Benjamin Frankin, (1706-1790) , North American printer, publisher, writer, scientist, inventor and statesman. Source: Wkipedia

Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.

Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789

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