There is life on old Spring Street; Pension Reform is coming; and Where is Amazon.Com, Inc.
1. Fourth and Spring to Fifth and Spring Comes Alive.
Los Angeles has a historic core with 31 blocks of historic buildings in two national historic districts and most are still standing [15M+ Sq. Ft.]. Finally after many attempts over 15 years, and much money [reported to be over $750M] a developer hits it big because he saw the key to success, that being critical mass. Congratulations to Mr. Gilmore. See: "Downtown Housing Interest Boosts Plans Strong response to 2 new apartment complexes in L.A.'s central city has prompted developers to seek additional sites." By JESUS SANCHEZ, Times Staff Writer in today's L.A. Times Business Section
The article highlights two other new projects, one on Sixth and Main and the other near Staples Center. One is in the Los Angeles Federal Empowerment Zone and one is not! Does having $55,000 in annual IRC Section 179 deductions [currently available in Empowerment Zones], an incentive for home-based businesses?.
2. Pension Reform is coming again.
If you check out the schedule of the House Ways and Means Committee you get a peek sometimes of things to come. This Thursday at 2 p.m. is a big event for all to see. Increased IRA's and Pensions are coming up the pipe again with strong bipartisan support.
3. Where is Amazon.Com.Inc.?
We checked the SEC filings for Amazon.Com, Inc. and believe they are located at 1200 12th Avenue South, Seattle 98144 [near the interchange of I-5/I-90] but could not find it in the EZEC Locator, but we did find 1300 12th Avenue South, Seattle 98144 and 1301 12th Avenue South, Seattle 98144. One side is in the Seattle Enterprise Community, and one side is not, which one is it? Is it possible that Amazon.Com, Inc, missed out by being on the wrong side of the street? Do they care? Is it possible to be on two sides of an Enterprise Community or Empowerment Zone, and if so what are the results? We suggest you check out IRC Section 1397B and find the answer since it may be more relevent when Zero Capital Gains Zones become available to Enterprise Zone Businesses; which can be of any shape or size, as compared to IRC Section 1202, which is very limited.
Could Amazon.Com, Inc., be an Enterprise Zone Business and issue stock that could be subject to the Zero Capital Gains rules next year, or how about Starbucks at 2401 Utah Avenue, Seattle 98134? What will Wall Street think about that, tradable tax free equities.
Jim Schneider, LL.M.
The Taxman86 Speaks... is copyright 1998-2010 by James E. Schneider, LL.M. Inc.