Skip to content

Recent Posts

  • Taxgirl Goes To The Movies: Star Wars
  • Looking For Tax Breaks?
  • Taxgirl Goes Back To The Movies In 2025
  • Here’s What You Need To Know About Submitting Tax Questions
  • Looking For More Great Tax Content?

Most Used Categories

  • individual (1,314)
  • politics (862)
  • IRS news/announcements (753)
  • tax policy (582)
  • ask the taxgirl (543)
  • prosecutions, felonies and misdemeanors (479)
  • just for fun (478)
  • state & local (403)
  • pop culture (399)
  • charitable organizations (389)
Skip to content

Taxgirl

Because paying taxes is painful… but reading about them shouldn’t be.

  • About Taxgirl
  • Info
    • My Disclaimer
    • A Word (or More) About Your Privacy
    • Subscribe
  • Ask The Taxgirl
  • Comments
  • Taxgirl Podcast
    • Podcast Season 1
    • Podcast Season 2
    • Podcast Season 3
  • Contact
  • Home
  • 2010
  • August
  • 17
  • Star Wars: States Will Vie For Space-Related Tax Breaks

Star Wars: States Will Vie For Space-Related Tax Breaks

Kelly Phillips ErbAugust 17, 2010

If a member of Congress was ever qualified to speak up about the space program, I’d say Sen. Bill Nelson (D-FL) would fit the bill. In 1986, Nelson became the second sitting member of Congress to travel into space (Sen. Jake Garn (R-UT) was the first). Now, in an effort to boost interest in commercial space ventures, Nelson has proposed the creation of business enterprise zones across the country which would offer tax breaks and other incentives to space-related businesses.

The Commercial Space Jobs and Investment Act, introduced by Nelson this week, would boost the rocket industry and attract jobs to Florida’s Space Coast.

The future of the US space program has appeared somewhat uncertain as the space shuttle program wraps up next year. In a shaky economy, Nelson and others worry about what this means for Florida and other space-industry areas. Providing tax incentives would, Nelson believes, promote growth. On his website, he stressed the importance of the space industry, saying, “President Kennedy was right when he predicted that space exploration would create a great number of new companies and strengthen our economy.”

To qualify for one of the space-related business enterprise zones under the bill, states would have to demonstrate that they had been affected by the loss of space jobs and that the infrastructure for continued space-related investment is already in place. Clearly, that puts Florida at the head of the line. It’s likely good news for Alabama, California, Texas – and possibly Virginia. Maryland, Mississippi, and Ohio may also be in the running.

Which states won’t benefit from the proposed tax credit? Well, Iowa, certainly. Nelson’s press secretary, Bryan Gulley, said about the state’s prospects, “You couldn’t do it in Iowa, or you couldn’t do it where there is no space industry and no high unemployment. Clearly, it’s intended to help communities where there already has been an established space industry, and communities where NASA already has a presence.” So take that, Iowa. And Rhode Island. And Maine. And, um, a bunch of other states…

Facebooktwitterlinkedinmail
author avatar
Kelly Phillips Erb
Kelly Phillips Erb is a tax attorney, tax writer, and podcaster.
See Full Bio
social network icon social network icon
Bill Nelson, Florida, NASA, tax

Post navigation

Previous: Pennsylvania Hopes To Shame Taxpayers Into Payment
Next: Call For Guest Posts: Bush Tax Cuts

Related Posts

marijuana plant

Bill To Decriminalize Marijuana For Federal Purposes Passes House

December 8, 2020January 10, 2021 Kelly Phillips Erb
grandparents with grandchildren

Your Social Security Check Will Be A Little Bigger In 2021

October 13, 2020October 13, 2020 Kelly Phillips Erb
post office box

US Tax Court Will Soon Be Accepting Mail

June 23, 2020June 23, 2020 Kelly Phillips Erb

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© 2005-2022, Kelly Phillips Erb | Theme: BlockWP by Candid Themes.
Skip to content
Open toolbar Accessibility Tools

Accessibility Tools

  • Increase TextIncrease Text
  • Decrease TextDecrease Text
  • GrayscaleGrayscale
  • High ContrastHigh Contrast
  • Negative ContrastNegative Contrast
  • Light BackgroundLight Background
  • Links UnderlineLinks Underline
  • Readable FontReadable Font
  • Reset Reset
  • SitemapSitemap
  • FeedbackFeedback