Washington, DC Poised To Become More Awesome for Businesses Starting With LivingSocial
July 13, 2012 1 Comment
Earlier this week, the DC Council implemented another Business incentive that was recommended to DC mayor by the local entrepreneurs including myself. The Council unanimously passed the Social E-Commerce Job Creation Tax Incentive Act of 2012 bill that provides LivingSocial, the social daily deals company with future tax breaks that could total $32.5 million over a 10-year period.
This means Washington, DC based LivingSocial will stay in DC. The bill requires the company to stay in the District and hire local employees to receive the full amount of the tax breaks. The bill that reduces LivingSocial’s tax costs for remaining in the District, will most likely encourages more businesses including startups to setup their headquarters in Washington, DC.
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