Tax assessments have hurt telcos for years,
Tax assessments have hurt telcos for years, but a new state law is poised to change that, said Joe Hrdlicka, Iowa Telecommunications Association director-government relations, in a Tuesday post for IowaLinkedUp (http://bit.ly/1aL6Ajp). Full savings won’t be seen until 2016, but…
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effects will appear sooner, he said. “For the average company, a $5,000 cash savings will be recognized in 2014. In 2015, the company will see a $15,000 cash savings consisting of $5,000 in March and $10,000 in September.” Senate Bill 295 touched on several elements of taxation, including those for telecom, and was signed by Iowa Gov. Terry Branstad (R) June 12. The law provides for “a 40 percent exemption on taxable value, up to $20 million, once fully phased-in during 2014,” Hrdlicka said. “The exemption is 20 percent for the 2013 assessment year.” Hrdlicka said the law will help make the state more conducive to broadband infrastructure investment throughout rural Iowa.