Individuals would pay no capital gains taxes on the sale of businesses or business assets held in such neighborhoods for more than five years.
No government funds involved save some cap gains taxes that might be forgone down the road.
Now you support a tax credit for children, reduction of the capital gains taxes and several other changes.
But big ones, who can afford the fees, sometimes keep the offsetting positions until death, when capital gains taxes no longer matter.
I paid the capital gains taxes from the profits.
There are no capital gains taxes for residents or non-residents in Belize.
Unless you sell shares, you don't generate any capital gains taxes.
She could exchange the condo for another property, however, and defer the capital gains taxes yet again.
The effect, under existing tax law, was that the selling family members owed no capital gains taxes.
Such an arrangement would allow Seagram to pay almost no capital gains taxes on the $1.45 billion in profit from the sale.