Daily Record Financial News &
Wednesday, January 10, 2018
Vol. 105, No. 038 • One Section
35¢ www.jaxdailyrecord.com
One Call name to go up before Valentine’s Day
Larry’s Giant Subs plans new concept
Aetna letters just about down from building at 841 Prudential Drive. By Karen Brune Mathis Editor
The Jacksonville chain will add a 900-degree pizza oven and full liquor license to new store in Murray Hill.
One Call Care Management scheduled a ribbon-cutting Feb. 12 for its new signage on the 22-story Eight Forty One building on the Southbank, said One Call spokeswoman Melanie Brodsky. The Aetna sign is just about down to make space for it. Aetna Inc., an insurance company, vacated 165,000 square feet at the building for a move to Gramercy Woods at 9000 Southside Blvd. In November, One Call Care Management was cleared to post signage as the anchor tenant on the former Aetna Building at 841 Prudential Drive. Ferrin Signs Inc. is the contractor to put up “One Call” and the logo on the upper east and west sides of the tower at a project cost of $232,300. One Call
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Larry’s Giant Subs hopes to open its Murray Hill restaurant at the beginning of April with a twist. Larry’s, founded 36 years ago by brothers Larry and Mitch Raikes, will add a pizza oven and hold a full liquor license. “The area is definitely up and coming,” said Larry Raikes. “It’s going to be really great.” Raikes said the investment will be $600,000. The city is reviewing a permit application for The Shrout Companies to renovate the almost 3,000-square-foot space for dining and a bar, plus an outside patio, at 1050 Edgewood Ave. S. at a cost of $205,000. Plans also show the woodburning oven from Italy that Raikes said bakes a pizza in 90 seconds at 900 degrees. Raikes said the restaurant will seat 110, including the patio, and feature a rustic look with custom woodwork. A dozen local and area craft beers will be on tap and the bar will feature drink specials. Raikes said the menu is being developed and will include Wisconsin cheese curds, Buffalo wings, hand-cut fries and a Sunday brunch with mimosas. Hours will be 11 a.m. daily to
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File image
A rendering of One Call Care Management’s signage.
Photo by Monty Zickuhr
Most of the Aetna sign atop the Eight Forty One Building at 841 Prudential Drive has been removed. All that remained Tuesday was “a” and half of an “e.”
Mathis
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Finance professor: Tax law makes U.S. better place for investment In World Affairs Council speech, Mihir Desai of Harvard says corporate tax system was broken. By Mark Basch Contributing Writer You may or may not be happy with the new federal tax law, but as far as Harvard University finance professor Mihir Desai is concerned, something had to be done with the U.S. corporate tax
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system. “It was broken, clearly broken,” Desai said Tu e s day at a World Affairs Council Desai of Jacksonville luncheon at The River Club Downtown. He said the world had changed a lot since the last major U.S. tax reform legislation, in 1986, and while other countries altered their policies to meet changing times, the U.S. had not.
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“We were out of whack in a very significant way with the rest of the world,” he said. The most significant change is the sharp reduction in the federal income tax rate for corporations from 35 percent to 21 percent. That will likely stop U.S. companies from moving operations overseas to avoid taxes, Desai said. The legislation also allows corporations to expense certain investments immediately, rather than amortizing the expense over a number of years.
“We’re moving to a place where the United States is going to be a better place for headquarters and a better place for investment,” he said. “We need corporations to be investing in this country.” The new law may prompt some businesses to alter their corporate structure, Desai said. “Now you’re going to have to think hard about what you want to be,” he said. “You may want to become a corporation. That could be an attractive thing to do.”
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For example, an individual working for himself or herself may want to become a corporation to take advantage of the 21 percent tax rate. Or a regular employee of a company may seek to become a contractor. The top tax rate for individuals is 35 percent under the new law. While Desai likes some provisions affecting businesses, he gives the new law lower grades for individual reforms. He said there should be a higher tax bracket Desai
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