first_imgMaryland enacted legislation creating income, sales, and property tax incentives for qualified taxpayers that bring large-scale projects to the state. The legislation creates the Promoting ext-Raordinary Innovation in Maryland’s Economy (PRIME) Program. Taxpayers enrolled into the program are eligible for program benefits for up to 10 consecutive years.The legislation is designed to lure Amazon’s second headquarters project to Maryland. However, any other taxpayer with a qualifying project can apply for enrollment in the program.Tax Incentives Under PRIME ProgramTo qualify for enrollment in the PRIME Program, a taxpayer must:be a Fortune 100 company; andestablish an eligible project.Before establishing a project, notice of the taxpayer’s intent and an application for enrollment must be submitted.Eligible Project Under PRIMETo establish an eligible project, a taxpayer must show that it is committed to spending at least $500 million on the project. It must also submit a project plan that, over a 17-year period, commits to:filling at least 40,000 qualified jobs at the project facility with an average compensation of at least $100,000; andspending a total of $4.5 billion.Certificates of EligibilityQualified taxpayers will receive a certificate that certifies the eligibility of the project enrolled in the program. The certificate will be updated as needed to reflect increases in the number of qualified jobs. In addition, the certificate providesthe duration of the certification; andadditional information needed for the taxpayer to receive a program benefit.Income Tax Credit for PRIME TaxpayersTaxpayers enrolled in the PRIME Program can claim a refundable income tax credit equal to 5.75% of the wages paid for qualified jobs. The credit can be claimed for 10 tax years for each job.To be eligible for the credit, the taxpayer must:pay employees in qualified jobs an average salary of at least $100,000; andfill the required number of qualified jobs within 17 years of enrolling in the program.Sales and Use Tax Exemption for PRIME PurchasesPersonal property and services purchased by the taxpayer under the program are exempt from Maryland sales and use tax.The Comptroller must issue exemption certificates to qualified taxpayers. The exemption certificates must:be renewed annually; andmay not be renewed for more than 10 consecutive years.Property Tax Credit for PRIME PropertyAnother benefit of the program is a state and local property tax credit of 50% of the increase in assessment on qualified property. Taxpayers may begin taking the credit in tax years after June 30, 2018.Qualified property is real property where an eligible project is located.Taxpayers can claim the credit for up to 10 consecutive years, as long as the property is still qualified.Revocation and Recapture of Tax BenefitsProgram benefits will end if the number of qualified jobs goes below the number claimed in the first year. In addition, the taxpayer’s certification may be revoked, in whole or in part, if:the taxpayer made false representations; orthe expenditures and hiring of employees by the taxpayer are significantly below the estimates in the project plan.If the taxpayer’s certification is revoked, program benefits received by the taxpayer may be recaptured.Duration of ProgramGenerally, the PRIME Program applies to tax years beginning after 2017. However, the program will end if no taxpayers are certified by the end of 2021.Ch. 350 (S.B. 877), Laws 2018, effective June 1, 2018, applicable as notedLogin to read more tax news on CCH® AnswerConnect or CCH® Intelliconnect®.Not a subscriber? Sign up for a free trial or contact us for a representative.last_img read more

first_imgFor decades, anthropologists have tried to trace the patchy trail left by the earliest modern humans out of Africa. But they have been stymied by gaps in the fossil record or unreliable dates, especially in East Asia. Now, Chinese anthropologists report 47 teeth of Homo sapiens from a cave in southern China, dated to 80,000 to 120,000 years ago. If the dating is accurate, the discovery pushes back the appearance of our species in Asia by at least 30,000 years, wiping out a long-standing picture in which modern humans swept out of Africa in a single wave 50,000 to 70,000 years ago.“This changes everything. It’s the best evidence we have for modern humans in East Asia this early,” says archaeologist 
Michael Petraglia of the University of Oxford in the United Kingdom, who was not part of the work but has long advocated an early migration out of Africa. Others question the dates. “This case is better than the previous similar claims, but it is not fully convincing,” says paleoanthropologist Yousuke Kaifu of the National Museum of Nature and Science in Tokyo.Most researchers agree that modern humans arose in Africa and first ventured out of that continent into the Middle East about 120,000 to 90,000 years ago, as shown by skulls from Israel. But H. sapiens remains don’t appear in Europe, East Asia, and Australia until 40,000 to 50,000 years ago. Older fossils in Asia proposed as H. sapiens are controversial. Genetic studies, too, suggest that humanity’s great global expansion began just 50,000 to 70,000 years ago.Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)But Petraglia and others have unearthed sophisticated stone tools from the Arabian Peninsula and India, persuading him that modern humans left Africa as long ago as 125,000 years, settled in a then-wet Arabia, then pushed into India and eastward (Science, 29 August 2014, p. 994). Skeptics counter that other archaic humans could have made the tools, and that fossils are needed as proof.Hence the excitement about the teeth reported this week in Nature, from Fuyan Cave in Daoxian in southern China, about 600 kilometers northwest of Hong Kong. A team led by Wu Liu and Xiu-Jie Wu of the Chinese Academy of Sciences’ Institute of Vertebrate Paleontology and Paleoanthropology in Beijing found small teeth with slender roots that barely differed from modern Chinese teeth. Indeed, the wear pattern and shape of the teeth are so modern that some wonder how they could be so old.The dates come from a small stalagmite, part of a flowstone that capped the layer holding the teeth. The team used the radioactive decay of uranium to thorium to date this stalagmite to 80,000 years ago—a minimum age for the teeth. Fossils of extinct elephants, hyenas, and pandas in the hominin layer are 120,000 years old at most, so the team concluded that the teeth are 80,000 to 120,000 years old, says co-author Maria Martinón-Torres of University College London.But the dated stalagmite came from a different trench than the teeth, and may be of a different age, says paleoanthropologist Russell  Ciochon of the University of Iowa in Iowa City: “The actual dates reported for Fuyan Cave are probably good but I doubt that the teeth are that old.”The authors insist that the stratigraphy in the cave is clear. Liu even argues that the find supports the radical—and minority—view that our species was born in China, not Africa. The discovery is likely to spur “a lot of debate,” Martinón-Torres says, “and force a new look at other alleged [H. sapiens] sites in China.”last_img read more

first_imgThe ousted Kochi team of Indian Premier League (IPL) has challenged the Board of Control for Cricket in India’s (BCCI) decision in the Bombay High Court.The battle between Kochi Tuskers management and the BCCI entered the legal space two days after the team’s termination from the IPL.The high court was expected to pass an order on the case later on Wednesday.The BCCI had on Monday terminated the contract with Kochi Tuskers for non-payment of dues and citing violation of terms by the franchise. However, the Kochi team maintained they were unfairly treated by the BCCI.Co-owners of the Kochi Tuskers cried foul saying that the BCCI jumped the gun, especially since the deadline for payment of dues ends on September 30.Kochi Tuskers have become the third IPL franchise to take the BCCI to court after the Rajasthan Royals and Kings XI Punjab challenging the board’s order of termination late last year.last_img read more