Taxes

Comments

1 comment

  • Avatar
    IMPLAN Support
    Hello Jeff. Given your situation, it will require some customization to the tax report to get a more accurate estimate of the tax impact in light of the information that you have about the firm in the study region. If you have local estimates of the private firm’s taxes - property, sales, and others, we would recommend that you create your own tax impact report based on the known information and the indirect and induced tax impacts from the IMPLAN tax report in in your study region. Since you know what the actual direct local taxes will be, we suggest that you: 1. Model the impact of the large private firm in the study region 2. Replace the direct tax estimates derived in the model with your own estimate of direct taxes for all categories of taxes that you have data. These can be seen by selecting Scenario Results>Tax Impact>View By>Direct from the "View By" drop-down menu on the Tax Results report page. 3. Next, decrease the other categories of direct TOPI to reflect each category’s new share of the direct taxes (TOPI) and so that the total direct TOPI is not overly inflated. 4. Add the calculated direct tax impacts (from step 3 above) to the model estimate of indirect and induced taxes to get total State and Local taxes in the study region. Since the indirect and induced taxes in the model involve many industries, the average distribution of these taxes as generated by the software would still be appropriate in these cases. Let us know if you need additional assistance.

Please sign in to leave a comment.