Business Organization, Commercial Real Estate, Tax Law

High Net Worth Family Tax Report, Vol. 8, No. 2 -- May 2013

by Loeb & Loeb LLP on 5/18/2013

President’s fiscal year 2014 budget contains numerous tax provisions - President Barack Obama released his proposed budget for the government’s fiscal year 2014 on April 10, 2013, and, not surprisingly, the budget...more

Spotlight on Georgia: Certain Interesting Tax Developments

by Baker, Donelson, Bearman, Caldwell &... on 5/13/2013

As in past years, there have been numerous interesting tax-related developments over the last 12 months in the state of Georgia. Just a few of these recent developments are summarized below...more

Top Ten Tax Mistakes For Restaurant Owners

by David Gair | Looper Reed & McGraw, P.C. on 4/19/2013

If you are thinking about getting into the restaurant business there are a multitude of issues that you need to consider. One of the most important is taxes. By this I mean, doing the appropriate advanced planning and also...more

Personal Use Of Corporate Property In A USRPI Holding Company Structure

by Charles (Chuck) Rubin on 4/1/2013

To insulate the ultimate individual owners from U.S. estate taxes, nonresident aliens often hold U.S. real property in a U.S. corporation, which corporation is owned by a foreign corporation. The foreign corporation is owned...more

Miami: Our Best Climate is the One Serving Your Business

by Fuerst Ittleman David & Joseph, PL on 2/15/2013

According to recent media reports, Miami has become the “go-to” location for companies seeking a better business, a fact that has been noticed by many major New York observing the trend of migration to Florida. Consider the...more

PA Tax Law News - February 2013

by James Fritz, Timothy J. Horstmann, Megan F. Luck, Sharon R. Paxton, Randy Varner | McNees Wallace & Nurick LLC on 2/15/2013

In This Issue: PA Governor Proposes Corporate Tax Cuts; Add-Back Legislation Reintroduced; PA Supreme Court Issues Business/Nonbusiness Income Decision; Philadelphia Property Reassessments; Commonwealth Court Addresses...more

AIM |Tax Alert for Mass Cos. - Personal Property Tax

by Bradley MacDougall on 1/16/2013

Manufacturers and other companies entitled to local property-tax benefits must now file online with the Massachusetts Department of Revenue (DOR) to claim those benefits. Corporations seeking to maintain favored...more

Perspectives on Real Estate - Fall 2012

by Pillsbury Winthrop Shaw Pittman LLP on 12/2/2012

In This Issue: - Energy Consumption Data Reporting in California – AB 1103 and 531 - Real Estate and Construction Risk Management: Tips to Ensure Your Status as an Additional Insured - Attention: New Foreign Tax...more

Draft bill for combating RETT blocker structures

by K&L Gates LLP on 10/23/2012

As from 2013: Real Estate Transfer tax on (in)direct economic accumulation of shares? Draft bill aiming at combating so-called RETT blocker structures - So far, all shares in a company holding German real estate can...more

Upscale Retirement Complex Denied Religious and Charitable Property Tax Exemptions

by Franczek Radelet P.C. on 9/28/2012

The Second District Appellate Court recently upheld the Department of Revenue’s denial of a property tax exemption for the Village at Victory Lakes in Lindenhurst, Illinois, which is a continuing care retirement community...more

High Demand and Significant Opportunity for New Markets Tax Credit Financing in Maine

by Pierce Atwood LLP on 9/25/2012

The Maine New Markets Capital Investment Program was established in 2011 to encourage private investment in low-income communities which lack good-paying jobs and have high rates of poverty. The Maine new markets program is...more

Religious Camp Exemptions Continue Under Attack

by McNees Wallace & Nurick LLC on 9/25/2012

In our May newsletter, we discussed the Pennsylvania Supreme Court’s decision upholding denial of real estate exemption to a religious camp. Mesivtah Eitz Chaim of Bobov, Inc. v. Pike County Board of Assessment Appeals, ___...more

Nonresident Limited Partners Lose Entire Investments but Still Subjected to Large PA Tax Bills

by McNees Wallace & Nurick LLC on 9/24/2012

On August 16, the Commonwealth Court upheld its perplexing January 2012 decisions that nonresident limited partners who lost their entire investments in a partnership owning Pennsylvania real estate, and who apparently had no...more

Third Circuit in Historic Boardwalk Hall: Tax Credit Investor is Not a Partner and Cannot Take Rehabilitation Tax Credits

by Ballard Spahr LLP on 9/10/2012

On August 27, in Historic Boardwalk Hall, the Third Circuit Court of Appeals decided that a tax credit investor was not a partner because it “lacked a meaningful stake in the success or failure” of the project owner....more

Third Circuit Strikes Down Historic Tax Credit Deal

by Katten Muchin Rosenman LLP on 9/5/2012

In Historic Boardwalk Hall, LLC, New Jersey Sports and Exposition Authority, Tax Matters Partner v. Commissioner of Internal Revenue, the U.S. Court of Appeals for the Third Circuit invalidated the allocation of federal...more

Client Alert: Guarantors May Face Unexpected Recourse Exposure

by Jeffrey Wutzke | Lewis and Roca LLP on 5/31/2012

Recent judicial decisions could result in a big increase in guarantor exposure under “bad boy” or “non-recourse carveout” guaranties. A common commercial loan structure involves a non-recourse loan made to a...more

"Purely Public Charities" in Pennsylvania. Back to the future – again.

by Saul Ewing LLP on 5/10/2012

A recent Pennsylvania Supreme Court decision has rekindled the issue of what constitutes a "purely public charity" for real estate tax exemption purposes in Pennsylvania. The decision may lead to a renewed interest of school...more

Back to the Future for Real Estate Tax Exemptions and PILOTs/SILOTs? Charities Must Meet HUP Test and Act 55, Pennsylvania High...

by Ballard Spahr LLP on 5/8/2012

For charitable organizations in Pennsylvania, obtaining and preserving real estate tax exemptions just got a little more difficult. The Pennsylvania Supreme Court has ruled that the statute intended to clarify the...more