Ohio Looks To Reclaim GM Tax Break

The Point out of Ohio is considering clawing again tax credits that it granted to Normal Motors in exchange for a determination by the corporation to keep open its Lordstown auto plant 

According to a report originally posted by ProPublica and The Business enterprise Journal, primarily based in Youngstown, Ohio, the point out Enhancement Solutions Company told GM in March it was recommending the Ohio tax authority terminate the tax agreements and gather a comprehensive refund.  

GM was awarded $60 million in tax credits in 2009. The corporation was necessary to keep the plant open until eventually 2028 to qualify for $forty six.one million of the breaks, and until eventually 2037 to acquire the remaining $14.2 million. 

GM obtained the tax breaks until eventually 2016. It started chopping work in January 2017 and shut the plant fully in 2019 just after demand for its

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