Whether companies are expanding operations in their existing locations, or seeking new locations for operations, Butler Snow attorneys are specialized in helping to lead these efforts. Butler Snow understands how to work across government agencies for permitting, legislation, tax and incentive negotiations, land acquisitions and other critical site selection issues. Butler Snow regularly assists companies with restructurings, tax increment financing, new markets tax credits, mergers, acquisitions and regulatory and administrative issues. Butler Snow has also developed extensive relationships at the local, state and national level over many years with governmental, economic development, civic, legislative and environmental leaders.
Our attorneys are also well-versed on all types of tax and financing incentives offered by state and local government to encourage economic development. Our team is familiar with local practices and requirements with respect to local incentives, and members of our Economic Development group have represented numerous manufacturing, processing, distribution, warehousing and other clients in site acquisition, state and local financing programs, other financing transactions and tax incentives.Whether the deal is large or small, we structure transactions to take advantage of numerous economic development incentives, including:
- New or expanding businesses
- Industrial development bonds (IDBs) both taxable and tax-exempt
- Sales, use and contractors' tax exemptions on construction costs
- Local ad valorem tax exemptions
- State income tax credits
The firm has close working relationships with local economic development professionals and local governmental officials (Boards of Aldermen, Boards of Supervisors, City Councils), as well as officials of the Mississippi Development Authority, the Mississippi Business Finance Corporation, the Mississippi Department of Revenue, Mississippi Bond Commission and Mississippi Attorney General’s office.We are well-versed in federal and state bond statutes and various economic development incentive tax and financing program statutes. When needed, we also prepare legislation authorizing additional incentives.
- Butler Snow has unmatched experience in the development and implementation of GO Zone incentives. The firm was instrumental in the drafting of the federal legislation that created the Gulf Opportunity Zone Act (GO Zone) to help Hurricane Katrina-stricken areas of our state recover. Butler Snow then created an extensive outreach program (see our website at www.gozonelaw.com) providing advice to hundreds of Mississippi business people on how best to take advantage of this unprecedented federal program.
- The 2010 legislature revised the Mississippi tax code to streamline the administration of certain taxes by requiring refinery owners to remit the contractors and sales and use tax for their construction projects. As a result, contractors will be relieved of the burden of paying these taxes; refineries will be relieved of the burden of making sure all contractors are complying with the law. Butler Snow played a key role in the research, drafting, and passage of the bill.
- Our attorneys are listed in the Public Finance Law section of The Best Lawyers in America® and in Mid-South Super Lawyers® for Bonds/Government Finance and Tax.
- One of our group's attorneys was named a "Dealmaker of the Year" (2006) by American Lawyer magazine.