Small Business Express Heat Map
DECD Business Assistance Recipients
Business Tax Credits (2012-13)
Film and Digital Media Tax Credits
What are Tax Credits?
Tax credits are a type of tax expenditure. Tax expenditures are exemptions, deductions, credits, preferential or lesser rates, or other mechanisms that lower the amount of tax revenue that would otherwise be collected. Tax expenditures are similar to direct appropriations in that they provide a direct benefit to certain entities at a cost to the state; in this case the cost is reduced tax revenue. Unlike appropriations, tax expenditures are not reviewed and adjusted annually by the legislature. Combined, tax expenditures cost the state more than $5 billion annually.
This report identified and describes state-level tax expenditures and estimates the cost of each tax in terms of lost state revenue.
This report assess the economic and fiscal impact of the state’s tax credit and abatement programs. It evaluates tax credit and abatement programs based upon estimated impacts on job creation and retention, the state economy and state revenues.