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What Are the Pros and Cons of the Following State

question 18

Essay

What are the pros and cons of the following state and local tax provisions?
a. An ad valorem property tax holiday made available to a manufacturing plant that is relocating.
b. Hotel occupancy tax and a rental car surcharge.
c. A back-to-school sales tax holiday.


Definitions:

Product Development

The creation of new products or the improvement of existing ones, involving idea generation, design, testing, and commercialization processes.

Market Penetration

An indicator of the total sales or use of a product or service relative to the maximum potential market for that product or service.

Market Development

Strategies or activities aimed at finding new markets or expanding existing ones for a product or service.

Diversification

A strategy for managing risk that diversifies a portfolio by incorporating a broad range of investments to reduce the effect of any single asset's performance.

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