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Government leasing and
cutbacks.
Government leasing is not simple. It involves a complex set of laws,
terms, and
conditions. Government leasing are transactions, which have flexible and
efficient
forms of tax-exempt options that are available for state and local
governments.
With the fluctuations in the economy, and forced budget cuts many state
and local
governments must make it is difficult for them to afford the equipment
they need
to run efficiently.
Painful Budget Cutbacks:
At some point, every business has faced the painful reality of budget
cutbacks.
Government departments have felt these pains, numerous times. Cutbacks
may mean
anything from the reduction in overtime, benefits, cutting back on
supplies or equipment
and even the loss of jobs. Government leasing may not prevent the loss
of employees,
it may however, be a solution in overcoming some of the constraints of
budget cutbacks.
Budget restraints simply mean there is not enough money in the fiscal
year to purchase
necessary equipment. Government leasing gives agency the ability to
spread the
cost of equipment out over a period of time, making it possible to
acquire the needed
equipment.
There are specific laws, which apply to government leases. These are
only available
to state and local governments, which meet the basic provisions in the
Internal
Revenue Code 103 section a. This includes local governments with one or
more of
the following: police force, power to tax, or power of eminent domain.
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