LivingSocial: $32.5M City Tax Incentive Deal

WASHINGTON POST - June 21 - LivingSocial would save $32.5M on city taxes in exchange for keeping its headquarters in the District and hiring city residents The proposal provides LivingSocial with corporate and property tax abatements beginning in 2015. By then, the company expects to generate taxable income, add 1K local employees and consolidate its local workforce into one office. The legislation is called the Social E-Commerce Job Creation Tax Incentive Act.

by Steven Overly
See full article at Washington Post

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