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Friday, January 19, 2018
Vol. 105, No. 045 • One Section
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A FORTUNE WAS RUN FROM THIS BUILDING
Amazon’s HQ2 list excludes the city
Now proposed for a Hotel Indigo, it was the headquarters of Stockton, Whatley, Davin & Co., which once had a $3.8 billion portfolio.
Miami is only city in Florida among the 20 finalists. By David Cawton Staff Writer Jacksonville will not be home to Amazon.com’s second North American headquarters. The online retailer announced its top 20 candidates in a news release Thursday morning. The only Florida city to make the cut is Miami. The list includes Atlanta; Austin, Texas; Boston; Chicago; Columbus, Ohio; Dallas; Denver; Indianapolis; Los Angeles; Miami; Montgomery County, Maryland; Nashville, Tennessee; Newark, New Jersey; New York City; Northern Virginia; Philadelphia; Pittsburgh; Raleigh, North Carolina; Toronto; and Washington, D.C. In the news release, Holly Sullivan with Amazon Public Policy thanked the 238 communities that submitted proposals. “Getting from 238 to 20 was very tough — all the proposals showed tremendous enthusiasm and creativity,” Sullivan said. “Through this process, we learned about many new communities across North America that we will consider as locations for future infrastructure investment and job creation,” her statement continued. The company said it would “dive deeper” into the proposals in the coming months to seek “additional information, and
Special to the Daily Record
Originally the headquarters of Stockton, Whatley, Davin & Co., this building at 100 W Bay St. is slated to become Hotel Indigo and Rooftop Restaurant.
By Max Marbut Associate Editor SWD: The people to see. That slogan, the trademark for Stockton, Whatley Davin & Co., was familiar to Jacksonville residents for decades, as was the company’s headquarters office building Downtown at 100 W. Bay St. Established in 1884, it was one of Jacksonville’s first major business enterprises. SWD grew by the early 1980s into the
largest mortgage loan servicing company in the Southeast with more than $3.8 billion in its portfolio in addition to about $100 million in real estate holdings. The company also was instrumental in the development of Northeast Florida, including Deerwood, Jacksonville’s first gated community, and Ponte Vedra Beach. The story began in Quincy, near the SWD
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When Confederate Col. William Tennent Stockton died, his widow and seven children moved to Jacksonville. One of his sons opened a businesses that would become one of the most wellknown in Jacksonville.
Amazon
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New tax law should benefit many small business owners “Pass-through” entities will be able to deduct 20 percent of their earnings.
By Max Marbut Associate Editor Much of the public discourse associated with the Tax Cut and Jobs Act of 2017 is focused on the changes expected to reduce income taxes for individuals and corporations. Those changes also are expected to reduce taxes paid by people who
own businesses that aren’t structured as corporations. Most businesses are defined under tax law as a “pass-through” entity, such as a partnership, limited liability company, S-corporation or a sole proprietorship. Under that structure, earnings from a business are “passed through” to the owner or owners, who pay taxes on the
earnings as individuals. In most cases, the new tax structure should reduce the taxes paid by owners. Under the new law, owners of such businesses will be allowed when they file their taxes for 2018 to deduct 20 percent of their earnings, thereby reducing their taxable income compared to the structure in
place for 2017 earnings, when taxes were due on 100 percent of earnings. Reductions in the individual rate brackets based on income and the increased standard deduction under the new tax law will result in most people seeing an increase in takehome pay. Taxes
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You should know ... Abe Fort Fort Family Investments director of development: Multifamily market booming. Public
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