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Life Cycle Of A Company – Choice Of Entity And Key Contents Of Organization Documents

I. GENERAL. A. Introduction. In selecting a form of business entity for an oil patch deal in Texas the organizer or initial owners can consider the following five business entity forms: • Corporation •...more

IRS Publishes Safe Harbor for Monetizing Certain Tax Credits

Following Historic Boardwalk Hall LLC v. Commissioner, 694 F.3d 425 (3d Cir. 2012), which rejected a partnership's allocation of rehabilitation tax credits to a purported partner, the Internal Revenue Service (IRS) recently...more

Contemplating IRS Safe Harbor for Rehabilitation Credits and Its Impact on the Energy Investment Tax Credit

The IRS recently issued Revenue Procedure 2014-12, providing a safe harbor under which the IRS will not challenge partnership allocations of “section 47” federal rehabilitation tax credits. In the aftermath of the IRS’s win...more

Tax Measures in UK Chancellor’s 2013 Autumn Statement

Statement builds on economic stability, with a focus on certainty for business. On 5 December, UK Chancellor of the Exchequer George Osborne released the 2013 Autumn Statement with measures designed to increase...more

Mixing Oil and Vinegar - Using Private Placement Variable Deferred Annuity (PPVA) Contracts to Enhance the Investment Return of...

Overview - Master Limited Partnerships are publicly traded partnerships. As of 2010, the market capitalization of MLPs was $220 billion. These publicly traded partnerships invest primarily in energy and associated...more

Massachusetts Rules Against Taxpayer on Treatment of Intercompany Debt—Again

In what is becoming a trend, the Massachusetts Appellate Tax Board (the "ATB") has issued yet another decision denying true debt treatment for an intercompany obligation. In National Grid Holdings, the ATB upheld assessments...more

Senate Hearing on Extending the MLP Rules to Renewables

On July 31, 2013, the Senate Finance Subcommittee Energy, Natural Resources, and Infrastructure held a hearing on the Master Limited Partnership Parity Act (S. 765). The bill would extend the master limited partnership (MLP)...more

Spotlight on Tennessee: 2013 Tax and Related Legislation

The 2013 Session, 108th General Assembly, considered numerous tax and related initiatives, many of which passed. The subject matter of these initiatives this year was very broad, ranging from efforts toward amending the...more

Financial Innovation for Clean Energy Deployment: Congress Considers Expanding Master Limited Partnerships for Clean Energy

Technological innovation is driving renewable energy towards a future where it is cost competitive without subsidies and provides a growing share of America’s energy. But for all the technical progress made by the clean...more

Washington Energy Update - April/May 2013

In This Issue: - DOE Begins to Authorize Pending LNG Export Applications — Cautiously - Senators Want to Extend Master Limited Partnerships to Renewables - FERC Takes on Formula Rate Protocols - Energy...more

Tax-Efficient Capital Vehicles for Unregulated Utilities: REITs, MLPs and Up-Cs Considered

Over the last several years, a confluence of political and market developments have made capital for renewable energy projects harder to come by, which has affected the ability of unregulated affiliates of public utilities...more

MoFo New York Tax Insights - Volume 4, Issue 5 - May 2013

In This Issue: New York Enacts Significant Changes to Related Member Royalty Add-Back Law; Nuclear Power Plant That Produces Steam and Water to Generate Electricity Not Eligible for Investment Tax Credit; Appellate...more

Master Limited Partnership Parity Act, Nuclear Waste, and the Investment Tax Credit– ML Strategies Weekly Energy and Environmental...

This week’s Energy & Environment Update recaps the very busy past week for energy and environmental issues both on and off Capitol Hill. Senator Coons introduced the Master Limited Partnership Parity Act on Wednesday. ...more

Proposition 39 – Analysis and Status of Implementation Current as of: 2/14/13

In November 2012, Proposition 39 was approved by the voters of California. Prior to Proposition 39, corporations were given two options to calculate their state tax liability under California law. Proposition 39 eliminated...more

PA Tax Law News - February 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

Congress Approves The American Taxpayer Relief Act Of 2012, Preventing "Fiscal Cliff"

After much contention,Congress passed the American Taxpayer Relief Act of 2012, and President Obama signed the legislation on January 2, 2013. The Act avoids automatic sunset provisions that were scheduled to take effect...more

President Obama Signs "Fiscal Cliff" Legislation into Law

As you likely have heard, the President signed the American Taxpayer Relief Act (H.R. 8) (the "Act") on January 2, 2013. The Act, popularly known as the "fiscal cliff" legislation, permanently extends the Bush era tax cuts...more

Perspectives on Real Estate - Fall 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

Under the Dome: Inside the Maine State House 10.19.12

Augusta, ME - Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. If you would like more specific information regarding an item in this newsletter or...more

Mining E-Review: September 2012 - Proposed Tax Changes Negatively Affect Foreign Investments in Canadian Mining Companies

Canadian tax amendments proposed on August 14, 2012 (the Proposals) could adversely affect structures, commonly used in the mining sector, involving Canadian corporations with foreign subsidiaries....more

No-Action Relief Excludes Tax Blocker Entity from Definition of Investment Company

On August 30, 2012, the SEC’s Division of Investment Management said that it would not recommend enforcement action if an oil and natural gas company implementing an alternative capital structure did not register as an...more

U.S. Tax Proposals to Help the Renewable Energy Industry

A variety of tax proposals are now under consideration in the U.S. that, if enacted, could help to stimulate investment in U.S. renewable energy projects. One proposal would expand the beneficial tax attributes of...more

Congress Proposes Expanding Master Limited Partnerships to Renewable Energy & Biofuel Projects

On Friday, June 15, Senator Chris Coons (D-DE) introduced S.3275, the bipartisan “MLP Parity Act,” a bipartisan bill that would amend Section 7704 of the tax code by enabling Master Limited Partnerships (MLPs) to own and...more

Washington Insight - March 2012

We are pleased to present this issue of Washington Insight, a bi-weekly newsletter containing information about emerging issues of importance in the Administration, the Executive Branch and Congress. If you have any questions...more

Pennsylvania and West Virginia Move Tax-Break Bills to Lure Petrochemical Plant, Hundreds of Jobs

Originally published in Marcellus Shale Law and Policy Update A legislative proposal that would expand Pennsylvania's tax-incentive zones is one of the lures the state is using to convince Shell Oil Company to...more

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