August 5, 2021
Scam/Fraud

Disney may get $ 570 million in tax deductions on the new campus

Orlando (AP)

Walt Disney Co. has benefited from more than $ 500 million in tax cuts to build a new regional campus in Florida and has at least 2,000 professional employees from Southern California to engage in digital technology and finance. Promises to hire. And product development.

The company could claim more than $ 570 million in tax deductions for the project over a 20-year period, according to a document obtained Wednesday through a request for public records by Orlando Sentinel from the State Department. Of financial opportunity.

The document states that Disney’s capital investment in this project could be as high as $ 864 million. The company already has a theme park resort in central Florida, the size of San Francisco.

Disney is eligible for money under the state’s capital investment tax credit program approved in February 2020, Florida Governor Ron DeSantis spokesman Christina Pushau told the newspaper.

In a…

Read full article here: floridanewstimes.com