Commercial Law & Contracts, Commercial Real Estate, Tax Law

Daishowa-Marubeni: A Tree Fell In The Forest And The SCC Caught It!

by Anne Calverley, Jehad Haymour, Sophie Virji | Dentons on 5/24/2013

In Daishowa-Marubeni International Ltd. v. The Queen, 2013 SCC 29, Justice Rothstein marries tax philosophy and tax practice by asking and answering the question: If a tree falls in the forest and you are not around to...more

Financeable Ground Leases – They’re Not Just for Development Sites Anymore

by Marc Intriligator | Cozen O'Connor on 5/23/2013

In years past, ground leases were used primarily as vehicles for the development or redevelopment of “stand alone” real estate. The fee owner – typically an investment group that purchased an income property years ago and now...more

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

2013 Maryland IDOT Legislation Expands Exemption Amount Applied For Recordation Tax

by John Wetzel | Niles, Barton & Wilmer, LLP on 5/14/2013

As a result of recent Maryland legislation, commercial property owners currently considering the financing or refinancing of their real estate may achieve significant recordation tax savings when using so-called “indemnity...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

New Maryland Law Provides Indemnity Deeds of Trust (IDOT) Relief

by Jerald Cohn | Holland & Knight LLP on 5/8/2013

Maryland Governor Martin O'Malley has signed a law that brings significant changes to how recordation tax will be imposed on the refinancing of commercial property and on the modification of existing indemnity deeds of trust...more

Maryland Again Changes Recordation Tax Payable on Indemnity Deeds of Trust - Effective as of July 1, 2013

by Walter Kirkman, Kevin LaTulip, Jr. | Ober|Kaler on 5/6/2013

Recordation Tax Now Charged Upon Recordation of Indemnity Deeds of Trust Securing a Guarantee of a Loan or Related Loans of $3,000,000 or More - Governor Martin O’Malley signed legislation this week that will again...more

U.S. Department of the Treasury Announces $3.5 Billion in Federal New Markets Tax Credit Allocation Authority

by Amelia Frankel, Jarrod Sharp, Jennifer Simmons | Thompson Coburn LLP on 4/26/2013

Yesterday the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (the “CDFI Fund”) announced the award of $3.5 billion in Federal New Markets Tax Credit (NMTC) allocation authority through its...more

Earth Matters - April 2013: Making Solar Power More Affordable for New Yorkers

by Donald Ross | Phillips Lytle LLP on 4/22/2013

New York State continues to be a national leader in renewable energy initiatives, particularly in encouraging practical, everyday applications of solar power. Recently, Governor Andrew Cuomo, as part of his ongoing “NY-Sun”...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

SDLT Schemes: The Good, The Bad and The Ugly

by Sanjay Mehta | Katten Muchin Rosenman LLP on 3/27/2013

The Chancellor had previously warned that he would “not hesitate to move swiftly, without notice and retrospectively” to counter aggressive and widely marketed Stamp Duty Land Tax (SDLT) schemes. Last week, when announcing...more

Banks Not Required to Capitalize OREO Costs

by Thomas Blank, Thomas Cotter, Mark Hildreth, W. Kent Ihrig | Shumaker, Loop & Kendrick, LLP on 3/11/2013

The Office of the Chief Counsel of the Internal Revenue Service has issued a Legal Memorandum (Number AM2013-001, dated March 1, 2013) (the “Memorandum”), which has important implications and represents a victory for lenders...more

Tennessee Appeals Court Holds that Tenant Is Required to Pay Landlord’s Tennessee Excise Tax

by Brett R. Carter, Joseph Gibbs, Patricia Head Moskal | Bradley Arant Boult Cummings LLP on 2/25/2013

The Tennessee Court of Appeals ruled on January 2, 2013 that a tenant was required to pay its landlord’s Tennessee excise tax liability, based on the terms of the applicable lease agreement. J-Star Holdings, LLC v. The...more

Buying Real Estate in Spain - FAQs

by Antonio Viñal on 2/18/2013

Prices in the Spanish real estate market have been cut down by around 30% in the last 5 years, which means a wealth of opportunities for real estate funds, savvy individual investors and anything in between. But there are...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

Damage From Superstorm Sandy Means Substantial Real Property Tax Relief May Now Be In Order

by Carl Rizzo | Cole Schotz on 1/7/2013

When Superstorm Sandy hit New Jersey on the evening of October 29, many local residents and businesses did not expect the devastation that followed. Numerous suffered substantial business and residential property losses as a...more

Rogers Towers: Documentary Stamp Tax: a Quick Review of the Basics

by Douglas L. Waldorf, Jr. | Rogers Towers on 1/3/2013

Happy new year to our blog readers! In 2013, we are all hoping for an improved economy and, with it, an increase in the volume of commercial and consumer loans. Remember that Florida has certain transactional taxes for which...more

Hurricane Sandy - Paths To Relief

by Patterson Belknap Webb & Tyler LLP on 11/8/2012

Many small and mid-size businesses in New York City suffered severe losses due to Hurricane Sandy. Below is a practical guide for business owners seeking relief. • Insurance. - The first place business owners...more

Commentary on October 24, 2012: Notice of Ways and Means Motion Relating to Tax Matters - Specified Leasing Property Rules

by Osler, Hoskin & Harcourt LLP on 11/6/2012

The specified leasing property rules, introduced originally to eliminate the after-tax advantages of leasing as a source of financing, effectively recharacterize a lease as a loan, and limit the lessor’s capital cost...more