Can we also offer tax credits to encourage making the next hardware innovation hub somewhere other than Phoenix, Arizona? I thought the southwest is being ravaged by the effects of climate change (120+ degree weather, massive droughts)
It's just about a joke anywhere else I've seen. Such as annual fees just to maintain an LLC. As if you're not already paying a high effective tax rate.
The cost of living and cost of doing business doesn't make much sense in other major metros. Unfortunately, so many people are coming here that it's raising our COL, too.
Then explain all of the people living and doing business in other metros out west? Must have made sense for them...
Except cost is important. Especially when you're a small business. When you see that cost of living and cost of maintaining is business is higher than you'd like, you're free to say, "No thanks," which is what plenty of businesses out here did.
Wow, you encompass a lot of very successful communities and businesses with that statement.
> Such as annual fees just to maintain an LLC.
I don't know what you mean exactly, but I've never heard a businessperson complain about such fees.
You're already paying taxes. You're already paying insurance. You're already taking on risk. There should be absolutely no friction to take on risk and start an enterprise. Leave that friction to all the other places that make sense like taking out a loan, building your brand, establishing a network.
And yet, if you wanted to expand to other countries, you have to pay sometimes thousands of dollars annually just to exist as a foreign corporate entity. It's nonsense. It's just a money grab for certain regions. As if you paying those contractors or employees isn't directly injecting capital into those economies.
Many argue for paying less taxes but we might want to look closely at where we live and consider whether our locality is truly well resourced in all walks of life. Has all infrastructure been built and maintained to perfection? If yes, then maybe it is worth arguing for reducing fees/taxes but I don't know that this utopia exists yet.
Too often incentives are locked behind a bunch of paperwork and hoops which require up front capital to take advantage of. Which creates a market for third parties to benefit from by charging for these services, instead of founders benefiting directly.
A great example of a horrible incentives program that results in this is SR&ED in Canada. I guess you could argue it employs a bunch of service providers to assemble SR&ED claims... so jobs?
You also pay at least $600 to incorporate in Canada and most often employ a lawyer to do it for you ($1,200+). Seems pretty counter intuitive if your goal is to promote startups and small business.
I generally think it's a human rights violation that law is so impenetrable to the people who are supposed to follow it, but it's especially obvious in this case that murkiness helps literally no one.
In theory, a business receives very many services from government, such as entire systems of infrastructure (which itself is composed of systems of transport, energy, etc.) and law. The fees are a fantastic deal.
So that being said, there's little to no difference between these individuals complaining about non-commercial fees, and commercial fees.
Fees are fees. And these ones don't make any sense.
I've seen several articles[1] mentioning that the current Taiwanese semiconductor shortage has a lot to do with water rationing due to drought. Do semiconductor manufacturers in Taiwan not recycle water like semiconductor manufacturers in Phoenix?
[1] https://www.wsj.com/articles/the-chip-shortage-is-bad-taiwan...
Currently COVID poses a larger threat to semiconductor production as multiple COVID clusters are detected in packaging/testing plants.
Source: https://www.cnbc.com/2021/06/04/why-intel-tsmc-are -building-water-dependent-chip-plants-in-arizona.html
Feel free to burn this comment to the ground, but is this really the level of HN reader nowadays? Can't even notice a spurious space...
At least in Taiwan earlier this spring was facing a drought which came close to impacting semiconductor production.
There's nothing meaningful congress can do to order states to be friendly to business.
Taxes are the front end transaction of investment, in education, infrastructure, courts, support for workers and families, etc. Those things are very business friendly. Low tax areas, which lack this investment, don't have a great history with businesses.