Sohodojo Advisory Board Member
The Taxman86 Speaks...
17 December 2000
<< Previous issue] [Next issue >>
From Little Acorns Do Big Oaks Grow.
l. The little engine that could.
Today's New York Times says it all in "With Minimal Fanfare,
Congress Calls It Quits."
We see it differently, passage of H.R. 5542 "Community Renewal Tax
Relief Act of 2000," has given new life to all of the commercial
businesses within the 31 Empowerment Zones, effective upon
enactment. Thus the following e-mail, to my closest supporters,
may be of interest to Congress, they did a lot, and we thank them
for their hard work. Next year, with the beginning of the
107th Congress, we can finish it for the 95 Enterprise
Communities, including San Diego. Happy Holidays from the
Taxman86 and staff.
" Subject: Let the games begin!
Date: Sat, 16 Dec 2000 10:41:38 -0800
From: "Jim Schneider LL.M."
To:"Candice L. Schneider"
CC: Al Monahan, Jack Borgos, Jason Schneider, Betty Clay, Sidney Penn
...Clinton said he will sign the package soon. "If we continue
to invest in our people and create opportunities for them, if we
continue to honor and reward work, our possibilities
are truly without limit," he said.
...Part of the budget package also will create a "New Markets"
tax credit for investments in entities involved in development in
low-income areas. About $8 billion in investments would be
eligible for the credit over the next seven years...
From the streets of our central cities, to the hills of
Appalachia, to the rugged vistas of our Native American
reservations, to the Mississippi Delta, we are giving people the
tools of opportunity to make the most of their potential,
To put it another way, look to new IRC Section 1397B and Section
1202, as amended, contained in Sections 116 and 117 of H.R. 5562
"Community Renewal Tax Relief Act of 2000"
which will upon
enactment apply to Empowerment Zone Investments in
As the Los Angeles Times said: "...One provision will
eliminate capital gains taxes on some business transactions in
The entire Internal Revenue Code, from time began, has been a
political fight between ordinary income vs. capital gains, taxable
vs. non-taxable, and some industries and areas have always won
EAST OF THE MISSISSIPPI
- Boston, MA Empowerment Zone
- New Haven, CT Empowerment Zone
- New York, New York Empowerment Zone
- Philadelphia, Pennsylvania/Camden, New Jersey Empowerment Zone
- Cumberland County/Bridgeton/Vineland, NJ Empowerment Zone
- Baltimore, Maryland Empowerment Zone
- Norfolk/Portsmouth, VA Empowerment Zone
- Columbia/Sumter, SC Empowerment Zone
- Atlanta, Georgia Empowerment Zone
- Southwest Georgia United Empowerment Zone
- Miami-Dade County, FL Empowerment Zone
- Mid-Delta Empowerment Zone
- Knoxville, TN Empowerment Zone
- Kentucky Highlands Empowerment Zone
- Huntington, WV/Ironton, OH Empowerment Zone
- Cincinnati, OH Empowerment Zone
- Columbus, OH Empowerment Zone
- Cleveland, Ohio Empowerment Zone
- Detroit, Michigan Empowerment Zone
- Gary, IN/East Chicago, IL Empowerment Zone
- Chicago, Illinois Empowerment Zone
- St. Louis, MO/East St. Louis, IL Empowerment Zone
- Southernmost Illinois Delta Empowerment Zone
WEST OF THE MISSISSIPPI
- Minneapolis, MN Empowerment Zone
- Rio Grande Valley Empowerment Zone
- El Paso, TX Empowerment Zone
- Griggs-Steele County Empowerment Zone
- Oglala Sioux Tribe Empowerment Zone
CLOSE TO HOME FOR THE TAXMAN86
- Desert Communities Empowerment Zone
- Santa Ana, CA Empowerment Zone
- Los Angeles City & County, California Empowerment Zone
Jim Schneider, LL.M.
<< Previous issue] [Next issue >>
The Taxman86 Speaks... is copyright 1998-2010 by James E. Schneider, LL.M. Inc.
Our Privacy Statement
© 1998-2010 Sohodojo, Inc. unless otherwise stated.
"War College" of the Small Is Good Business Revolution
Website design and hosting by Sohodojo Business Services,
A Portfolio Life nanocorp
[ Translate page. ]
Archive Host Sohodojo Home
Go to the Visitor Center