General Business Construction Tax

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Developers Turn to Tax Opinion Insurance to Solve the “Starting Physical Work of a Significant Nature” PTC Eligibility Issue

Industry reports suggest that three developers have purchased tax opinion insurance to provide financial assurance to tax equity investors that their projects will be production tax credit (“PTC”) eligible. Use of this...more

After Boardwalk: The IRS Issues Safe Harbor Guidance for Historic Tax Credit Transactions

Immediately upon its publication, The United States Court of Appeals for the Third Circuit’s decision in Historic Boardwalk Hall, LLC v. Commissioner, 694 F.3d 425 (3d Cir. 2012), cert. denied, 133 S. Ct. 2734 (2013) put...more

Public Finance: New York State Establishes New Procedure for Claiming Sales Tax Exemptions for Industrial Development Agency...

The New York State Department of Taxation and Finance ("NYSDTF") has established a new procedure for claiming sales tax exemptions for Industrial Development Agency ("IDA") projects. Beginning June 1, 2014, companies that...more

PA Tax Law News: December 2013 -- Sales Tax - Mine Site Preparation

On November 15th, the Pennsylvania Department of Revenue updated and reissued Sales and Use Tax Bulletin 2012-01, addressing sales and use tax issues with respect to drilling site preparation in the Marcellus Shale. As...more

State and Local Tax Issues in Construction

Every business has an accountant or finance resource. This resource spends 150% of his or her time handling the cash flow, paying the bills, and filling out the requisite federal income tax returns. What is usually missing...more

Washington Energy Update - August/September 2013

In This Issue: - DOE Announces Fourth Authorization for LNG Exports to Non-FTA Nations. Does This Mean Full Steam Ahead? - FERC Addresses ISO-NE Capacity Supply Obligations, Walks a Fine Line Between Generator...more

New Beginning Construction Guidance Notice 2013-60

Earlier this year, the Internal Revenue Service (the “IRS”) published Notice 2013-29, providing guidance on what it means to “begin construction” for purposes of the recent extension of the 2.3 cent-per-kilowatt-hour...more

IRS Issues Additional Guidance on When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued additional guidance relating to when construction begins with respect to wind and other qualified facilities for purposes of the production tax credit and investment tax credit. ...more

Energy Law Alert: IRS Releases Notice 2013-60 With Additional Guidance For PTC/ITC Qualification

Late in the day on September 24, the IRS released a formal Notice addressing the Begun Construction requirements to qualify for the Production Tax Credit and Investment Tax Credit. Notice 2013-60 clarifies an earlier Notice...more

Additional IRS Guidance on “Beginning of Construction” for ATRA 2012 Tax Credit Extensions

The IRS has released additional guidance (IRS Notice 2013-60) on satisfying the new “beginning of construction” requirement for the renewable energy production tax credit under Code Section 45 (PTC) and energy investment tax...more

IRS Clarifies Guidance on Beginning Construction of a Qualified Energy Facility for Production Tax Credit and Investment Tax...

A qualified facility is eligible to receive a renewable electricity production tax credit (PTC) or an energy investment tax credit (ITC) in lieu of the PTC if construction of the facility begins before January 1, 2014....more

IRS Notice 2013-60 Clarifies Rules on Beginning of Construction

On September 20, 2013, the U.S. Department of the Treasury (“Treasury”) released Notice 2013-60, which clarifies in important ways the eligibility rules applicable to the investment tax credit (“ITC”) and production tax...more

Under Construction - September 2013: Arizona Contractors and Design Professionals Receive Additional Protections Under Arizona’s...

For good reason, much of the focus for Arizona contractors during the recently-concluded legislative session was on transaction privilege tax (TPT) reform. That bill, HB 2111, was ultimately signed by the Governor, but only...more

IRS Updates Renewable Energy Tax Credit Beginning of Construction Guidance

On September 20, 2013, the Internal Revenue Service (IRS) issued Notice 2013-60, which provides additional guidance that will help developers and purchasers of renewable energy facilities meet the beginning of construction...more

IRS Clarifies “Begun Construction” Guidance for PTC and ITC Eligibility (Notice 2013-29)

On September 20, 2013, the IRS released Notice 2013-60, which clarifies the IRS’s original guidance regarding the eligibility requirements for the production tax credit (PTC) and investment tax credit (ITC) for certain...more

IRS Provides Helpful Clarification to PTC “Start of Construction” Rules

On September 20th, the IRS in Notice 2013-60 clarified three critical issues in its guidance as to whether a wind project (or other type production tax credit (PTC) eligible project) is considered to have “started...more

Major New Jersey Economic Incentive Legislation Advances

Legislation that will significantly expand economic development incentive programs will soon become law. The legislation merges five existing economic development incentive programs into two economic development incentive...more

Construction E-Note - July 11, 2013

In This Issue: - Ground Control, LLC v. Capsco Industries, Inc., et. al.: Opening the Door to Claims by Unlicensed Contractors in Mississippi - 2013 Alabama Sales and Use Tax Legislation - General Conditions Not...more

Comparison of Economic Development Incentives for South Carolina and North Carolina

In This Presentation: - Business Consideration – Electricity Rates - South Carolina vs. North Carolina - Corporate License Fees/ Franchise Taxes - Income Tax Rates (C Corps) - Income Tax...more

Economic and Fiscal Impact of “Line Jumpers”

In This Presentation: - What’s a “Line Jumper”? - Today’s Example - Jobs - Capital Investment - Construction Impact - Fiscal Impacts from Construction - Employment Impacts...more

Tax Law Alert: Alaska Legislature Lowers Oil and Gas Production Tax Rates, Amends Incentives

Senate Bill 21, which was recently signed into law, significantly alters Alaska's Oil and Gas Production Tax regime. Although discussions regarding this law have largely been focused on North Slope activity, other areas of...more

Legal Alert: IRS Clarifies "Binding Written Contract" Definition in Renewable Energy Tax Credit Begun Construction Guidance

On April 25, 2013, the Internal Revenue Service updated guidance issued on April 15, 2013, that explained how to satisfy the new “begun construction” requirement for the renewable energy section 45 production tax credit (PTC)...more

IRS Issues “Begin Construction” Guidance for Renewable Energy Tax Credits

On April 15, 2013, the Internal Revenue Service (IRS) issued long-awaited guidance updating eligibility requirements for renewable project developers seeking to utilize the 2.3 cent/kWh Renewable Electricity Production Tax...more

IRS Issues Notice to Determine When Construction Begins for Purposes of Production Tax Credit, Investment Tax Credit

The Internal Revenue Service (IRS) has issued important guidance to determine when construction begins with respect to a qualified facility for purposes of the production tax credit and the investment tax credit for certain...more

Energy Alert: IRS Identifies Two "Begun Construction" Standards To Qualify For Two Tax Credit Opportunities

The renewable electricity production tax credit and the energy investment tax credit currently offer taxpayers a tax credit for energy produced from qualified facilities. For the PTC, the tax credit covers a ten-year period....more

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