Disney has been taxing itself and the areas around it and providing the services that those taxes provide. Net profit to Disney from the taxes, probably about zero. Hard to say. As of the legislation taking effect, Disney doesn't have the legal right to charge those taxes, and also no longer has the responsibility to provide those services - the counties do. They now have to tax Disney. It changes the tax flow and who has to provide those services AND the costs of providing and maintaining those services. It's estimated that this could increase property taxes in those counties TWENTY PERCENT to their voters. They can't just increase taxes on WDW because there's already a tax there, that tax is being transferred. And if they try to increase it further, they run into the problem of going against Republican ethos of taxing major corporations, especially one that is the largest employer in the state - and many have suggested that Disney pull out of Florida because of this! Also, it's not easy to increase tax on a single corporation - corporate discrimination? You'd probably end up increasing it on all theme parks in the state, which would increase all ticket prices, which would drive down tourism which is a lifeblood of Florida's economy.
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timeasmymeasure
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Date: 2022-04-24 12:45 am (UTC)Disney has been taxing itself and the areas around it and providing the services that those taxes provide. Net profit to Disney from the taxes, probably about zero. Hard to say. As of the legislation taking effect, Disney doesn't have the legal right to charge those taxes, and also no longer has the responsibility to provide those services - the counties do. They now have to tax Disney. It changes the tax flow and who has to provide those services AND the costs of providing and maintaining those services. It's estimated that this could increase property taxes in those counties TWENTY PERCENT to their voters. They can't just increase taxes on WDW because there's already a tax there, that tax is being transferred. And if they try to increase it further, they run into the problem of going against Republican ethos of taxing major corporations, especially one that is the largest employer in the state - and many have suggested that Disney pull out of Florida because of this! Also, it's not easy to increase tax on a single corporation - corporate discrimination? You'd probably end up increasing it on all theme parks in the state, which would increase all ticket prices, which would drive down tourism which is a lifeblood of Florida's economy.