Kristatos wrote:I suspect Disney will find a way to pass those costs onto the residents of those two counties. Giant corporations like that have ways of getting out of paying taxes.
I don’t think the cost will be passed off as such, anymore than usual. To be blunt imo the talk of locals taking of the bond debt Disney wrote/issued themselves on very favorable terms I don’t think will change. Usually those kinds of bonds are so well written out to avoid default, Disney is probably locked in to paying them no matter what. I could be wrong but my gut feeling is the first wave of news is fear mongering by Disney. These changes are over a year away and could be reinstated by the next legislator.
What I think will be greater concern for Disney is they way they are taxed.
The counties will be tripping over themes selves to incorporate the Disney land into their county/city.
Disney will be paying permitting fees and submitting plans to local governments. And a ton of other considerations they never thought about.
Believe me Disney has never been treated like your average small business has, anybody who’s tried to build a new house or business building know how crazy it is dealing with local governments and never ending delays and new hoops to jump through, each one with a new permitting fee attached to it. People talk about the quota systems cops had/have for writing tickets basically they a finding funding every ticket written, well on the business side of it the government doesn’t even bother to pretend it’s for our own good.
But Walmarts have more regulation and pay more in in taxes and fees to local governments than Disney has had two. I wish I could find the story from a few years ago about the crazy deals that city in California gives Disney. Google doesn’t think is was worth cataloguing, bottom line is the way Disney throws its weight around would be bad for business if known.
The funnies part of all of this is Disney had paid who knows how many millions to bribe these politicians in Florida to have them turn on them like this has got to be a shock.
If Florida gets more revenue out of Disney in taxes, California will be watching that closely and possibly imitate
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