That’s what the Tax Court said in a case involving cash grants given by New Jersey to a financial services corporation in order to attract the company to office space in Jersey City. The grants were nontaxable contributions to capital. Note: The Tax Cuts and Jobs Act amended the law to make governmental contributions to capital taxable.
Barbara Weltman
Big Ideas for Small Business, Inc.
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health