Good News for Businesses Considering DC Location
In an ongoing effort to make it easier to do business in the District, the Office of Tax & Revenue proposed new regulations last month to allow the Chief Financial Officer to issue declaratory orders to businesses considering relocating or expanding into the District. These orders will be binding statements from the CFO that outlines the tax incentives these businesses will receive if they move their business to the District. After news of the proposed new regulations spread, businesses are beginning to express how they plan to use the declaratory orders to guide them in their decision on relocating their businesses into the District. The proposed new regulations are set to go into effect later this month.