Construction Tax

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Newbigin – A reality check - Newbigin v Monk

It has not been rosy in the business rates garden recently. Following the Woolway v. Mazars decision, the vagaries of the business rates revaluation and the complete uncertainty and potentially adverse consequences flowing...more

Supreme Court rating decision good news for developers and property owners

In a decision that will be welcomed by developers and property owners, the Supreme Court has held that a commercial property undergoing extensive refurbishment works was effectively exempt from business rates....more

Business Appraisers Spar Over Tax Rates, Market Approach and Other Key Issues in Fair Value Buy-Out Case

As promised in the postscript to last week’s post about the appellate ruling in the Gould case, affirming Justice Platkin’s order granting the oppressed minority shareholder’s dissolution petition involving a pair...more

Gov. Haslam Expands His IMPROVE Act

Gov. Haslam expanded his IMPROVE Act this week. He amended the act to allow local referendums on surcharges to existing local taxes as a means to pay for public transit projects. The new surcharge options apply to local...more

New North Carolina Sales Tax Provisions for Contracts Related to Real Property

This alert is relevant for contractors who perform construction services on real property in the state of North Carolina. In South Carolina, contractors remain subject to the traditional sales or use tax at the time of all...more

OCTA Signs DB Contract for $1.9 Billion Managed Lanes Project in California

Last week the Orange County Transportation Authority executed the design/build contract for the I-405 Improvement Project with OC405 Partners, a joint venture consisting of OHL USA and Astaldi Construction Corporation. With a...more

New Markets Tax Credits – the Best Kept Secret in Financing Public Projects

Right before Thanksgiving 2016, the federal government announced the release of $7 billion of tax credits aimed at spurring private equity investment into projects in low income communities. Administered through the U.S....more

Wisconsin Supreme Court Clarifies Required Assessment Methodology for Section 42 Housing

Regency West concerned the 2012 and 2013 assessments of a newly constructed 72-unit Section 42 housing development. For 2012 (the first tax year following completion of construction), the city assessed the property at...more

New Sales Tax Law Affecting Construction Industry to Take Effect

A number of amendments to North Carolina’s sales tax laws applicable to the construction industry took effect January 1, 2017. These amendments will provide welcome relief to many contractors engaged in new construction....more

IRS Issues New Guidance on the Beginning of Construction Safe Harbor For Renewable Energy Projects

The IRS recently issued Notice 2017-4 (the “Notice”) which makes two important changes to its “beginning of construction” rules for taxpayers seeking to take advantage of the section 45 renewable electricity production tax...more

IRS Further Updates Beginning of Construction Guidance for Renewable Energy Tax Credits

On December 15, 2016, the Internal Revenue Service (IRS) issued Notice 2017-04, which updates prior guidance regarding the beginning of construction requirement for renewable energy tax credits under IRC sections 45 and 48. ...more

IRS Issues Additional Guidance on Beginning of Construction Rules for Renewable Projects

On December 15, 2016, the Internal Revenue Service released Notice 2017-04, which provides welcome guidance on how to meet the “beginning of construction” requirements for wind and other qualified facilities. There has been...more

IRS Extends Continuity Safe Harbor Until December 31, 2018

On December 15, 2016, the US Internal Revenue Service (the “IRS”) released Notice 2017-4 (the “Notice”), which updates previous IRS “start of construction” guidance by extending the Continuity Safe Harbor to December 31,...more

Tax break for infrastructure projects

To implement the G20/OECD base erosion and profit shifting project, the 2016 Budget announced measures limiting tax deductions that companies can claim from their interest expenses (read DLA Piper's earlier client alert on...more

IRS Issues Notice 2017-04, Further Clarifying and Extending the "Begun Construction" Requirements for ITCs and PTCs

On December 15, 2016, the IRS issued Notice 2017-04, which clarifies and extends certain "begun construction" requirements for facilities qualifying for the Section 45 production tax credit (PTC) for which construction must...more

IRS Updates “Beginning of Construction” Guidance

The IRS today issued highly anticipated guidance updating the “beginning of construction” requirement for the production tax credit (PTC) under Section 45 of the Internal Revenue Code (the Code) and the investment tax credit...more

Reaction to Uncertainty in Affordable Housing Industry Brought on by Trump Election

The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more

West Coast Real Estate Update: November 2016 #3

Owners, Developers Face Challenges Converting Parking to E-Commerce Delivery Space - Because millennials make up an increasing number of urban residents, owners and developers of apartment and condominium buildings are...more

San Francisco Election Results: Which Real Estate Measures Passed?

Prior to the November 8 election, we reported on the long list of local propositions on the San Francisco ballot, including a number of measures impacting real estate taxes, land use and governance. The results were of...more

Election 2016: Where the Candidates Stand on Issues Affecting the Construction Industry

Here we are. The rollercoaster 2016 election is ending. Millions of Americans have voted already. Polls show a close race heading into Election Day. As the last Americans go to the voting booth, we take a look back at what...more

Construction Industry Scheme - taxing our landlords and tenants

The Construction Industry Scheme (‘CIS’) requires contractors to withhold tax from payments to subcontractors in relation to certain construction work. It is easy to assume that CIS only applies to mainstream contractors, but...more

Third Circuit Deals Blow to Jersey City Ordinance Requiring PLAs on Privately Funded Projects in Exchange for Tax Abatements

Jersey City’s Municipal Code offers real estate developers generous tax exemptions that are designed to spur the City’s economic growth, but the tax incentives have strings attached. Specifically, to receive a tax exemption,...more

UPDATE: New Fee for Affordable Housing Goes to Denver City Council Sept. 19

A bill proposing a new development impact fee for a permanent affordable housing fund moved on to the Denver City Council Wednesday.Bill No. 625, proposed by Mayor Michael Hancock and Councilmembers Robin Kniech and Albus...more

New IRS Management Guidance is Flexible, Furthers P3s

State and local governments and 501(c)(3) organizations have been given very flexible guidance by the IRS for longer-term private management of tax-exempt bond financed projects to facilitate general operations and major...more

Proposed Rule Changes to Florida’s Affordable Housing Allocation and Funding Process

The Florida Housing Finance Corporation (“Florida Housing”) has proposed changes to its rules governing the affordable housing allocation and funding process. The changes are to Rule Chapters 67-21, 67-48, and 67-60, F.A.C....more

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