Developments in Tax and Business
Federal “Good Samaritan” Legislation
Only 21 states have “Good Samaritan” laws, which protect responders working
in emergencies and natural disasters from lawsuits for negligence. Since
construction companies and their personnel have volunteered to help after
numerous emergencies and disasters, construction industry groups are asking
for federal “Good Samaritan” legislation.
Non-Residential Construction Shows Strong Growth
According to the
Associated General Contractors of America (AGC), the
non-residential sector of the construction market appears to be largely
unaffected by troubles in the credit market. Government figures show that
the lodging, office and commercial construction segments all recorded gains
through July of 2007. Construction in the lodging segment jumped 60%
year-to-date, while private office construction rose 22% and commercial
construction was up 15% for the same period. Other construction segments
that did well in the first seven months of the year were power and private
health care.
Forward Looking Index Points to Growth
Another good sign for the non-residential construction sector came from the
American Institute of Architects, which announced that its July Architecture
Billings Index recorded its second highest level in the survey’s history.
The index, which measures demand for architects’ services, is an indicator
for future construction activity.
Work-In-Process is provided by
Somerset for our clients and other interested persons upon request.
Since technical information is presented in generalized fashion, no
final conclusion on these topics should be made without further review.
For additional information on the issues discussed,
please contact
Ken
Hedlund,
Jay Feller,
Steve George,
Chris
Mayfield or
Rebecca Ogle
of our
Construction & A/E Team.
This document is not intended or written to be used, and cannot be used,
for the purpose of avoiding tax penalties that may be imposed on the
taxpayer.
Somerset CPAs,
P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.somersetcpas.com
