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Sohodojo Advisory Board Member
Jim Schneider
The Taxman86 Speaks...
26 June 2000
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A trip down memorary lane; Where is the Little Rock Enterprise Community; It is called sprawl.

1. One of the Learned Ones loves his city.

A walk down Pennsylvania Avenue is different today then the trip in 1961 because of one man we are told, and he knows his tax policy, as former Chairman of the Senate Finance Committee.

In 1993, then in 1997, and now in 2000 the tax laws will be changing in Washington, D.C., and you do not hear much about it. However, if H.R.4358 gets passed, then the ZERO Capital Gains rate will be available for all investments made on or after January 1, 1998 [retroactive] if held for two [2] years or more. We suspect this man has had his hand in it. If two [2] years becomes the rule in Washington, D.C., then why not in Renewal Community Zones? We like six [6] months, which is the rule under IRC Section 1045.

2. Checking out Little Rock's Enterprise Community.

We have never been to Little Rock Arkansas, or Jackson Mississippi, but we have been to Denver Colorado, Seattle Washington, Tacoma Washington, Phoenix Arizona and Portland Oregon, all of which have Enterprise Communities. Would they and 95 other cities like to have the benefits of IRC Section 1045 Capital Gains Roll Over, or IRC Section 1202 Capital Gains 60% Exclusion for their Enterprise Zone Businesses? We think so.

How do we know, because major law firms are Williams & Anderson LLP , Butler Snow, and Garvey, Schubert & Barer to name a few, or will be locating in these areas.

3. Only in Los Angeles can they call sprawl 'Technopolis'.

We have watched the writings of a famous urban planning guru, and his latest article is very interesting because he is promoting all the great technology centers in the Country, all of which are suffering tremendous traffic problems, also know as a sprawl. Could tax laws be used to change this pattern? We think so. Does this guru see it, no way. He loves his drive from the Westside, to Burbank/Glendale to Irvine Califonia. If downtown Los Angeles's Historic Core with 15M sq. ft. of tax favored buildings gets going, which it will, then the center of Technopolis will return to the center once again. It is called critical mass, and having lawyers, accountants, venture capitalists, and the creative ones all in a tight area, such as Silicon Valley is why it happened.

Jim Schneider, LL.M.

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