The venture plans to qualify for the tax break because its operations are based in two Oregon opportunity zones. And sex toys aren’t mentioned in the law’s list of exclusions.
Haddock knows the business probably isn’t what lawmakers imagined when they created the perk. But she said the company is living up to the intent of the legislation in at least one important way: It’s hiring.
“The money that we’ve been able to raise has helped a tiny startup go from literally three employees to 20 in about a year,” she said. “I can’t necessarily speak for everyone else” using the tax break, she said. But “it’s positive what we’ve done with it.”
--With assistance from David Kocieniewski.
This article was provided by Bloomberg News.