Tax Law

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News & Analysis as of May 23, 2013

New Maine Tax Legislation for 2012

by Pierce Atwood LLP on 5/1/2012

This year’s short legislative session produced significant new tax laws dealing with all of Maine’s major taxes, as well as increased legislative oversight of Maine Revenue and dynamic fiscal analysis. Below is a brief...more

Proposed Changes to the Georgia Land Conservation Tax Credit Act (O.C.G.A. § 48-7-29.12)

by Sutherland Asbill & Brennan LLP on 3/21/2012

In April 2006, the state of Georgia passed the Georgia Land Conservation Tax Credit Act, creating a new state income tax credit (not deduction) for land conservation. The purpose of the law was to provide a financial...more

$3.6 Billion dollars has recently been announced as awarded by the Treasury to New Market Tax Credits allocates

by Reed Smith on 3/8/2012

The New Markets Tax Credit (“NMTC”) program is administered by Treasury Department’s Community Development Financial Institutions (“CDFI”) Fund. The program is designed to stimulate job creation, and encourage investment in...more

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

by Duane Morris LLP on 3/1/2012

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

New Economic Transformation and Facility Redevelopment Tax Credits Provide Additional Economic Incentives for Areas of New York...

by Phillips Lytle LLP on 9/15/2011

The New York State FY 2011-12 budget provides targeted, location-based tax incentives for areas affected by the closure of prison and juvenile justice facilities. Eligibility for the benefits is confined generally to the...more