Investor Presentaiton

Corporate Exemptions and Credits, Est. $1.722 billion Exemptions and Credits Subchapter S Corporation Projections, 2016 $545 million-not really exemption; a pass-through Inventory Ad Valorem-modified $458 million-must apply 75% to all in 2015 inventory taxes paid, not just refundable. Nothing to do with CIFT Net Operating Loss-modified in $373 million-poorly drafted law in 2015 Federal Tax Liability Motion Picture Tax Credit Quality Jobs Enterprise Zone All Others 2015 $208 million--constitutional $136 million-not really a corporate credit-just use CIFT to write off- modified in 2015 session $42 million must examine closely $42 million-eliminate-simply not a productive exemption $126 million

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