Construction Tax Business Organization

Read need-to-know updates, commentary, and analysis on Construction issues written by leading professionals.
News & Analysis as of

Remission of stamp duty on certain conveyance directions - Licensed housing developers

Introduction - 1. Where a party (Vendor) enters into an agreement (Main Contract) to transfer any immovable property (Property) to another party (Initial Purchaser), and before having obtained a conveyance of the...more

IRS modifies and extends continuity safe harbor, clarifies other guidance for production tax credit eligibility

The IRS has released Notice 2016-31, which extends and modifies the “continuity safe harbor” for purposes of the “begun construction” requirement applicable to the renewable electricity production tax credit (PTC) under §45...more

IRS Issues Guidance on Beginning of Construction Rules for Renewable Projects

On May 5, 2016, the Internal Revenue Service (IRS) issued Notice 2016-31, providing guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal,...more

After Extension, IRS Clarifies "Begun Construction" Guidance for PTCs

Following last year's extension of the investment tax credit for qualifying projects for which construction begins prior to January 1, 2020, and of the production tax credit (PTC) with respect to certain facilities the...more

Tax Newsletter - January / February 2016 (China & Hong Kong)

Welcome to the latest issue of our Tax newsletter. In this issue, we have covered a number of developments and cases in the PRC and Hong Kong which could impose legal and tax implications to your business. In the PRC,...more

CHINA EXPANDS VAT REFORM TO NEW SECTORS

China's Premier Li Keqiang has announced, in the Annual Government Working Report to the National People's Congress, held in March that Value Added Tax ("VAT") reforms will be fully implemented and expanded from 1 May 2016 to...more

New Developments in the Determination of the Texas Franchise Tax Liability

The Texas Franchise Tax is imposed on taxable entities that do business in Texas or that are chartered or organized in the state.  Taxpayers subject to the Texas Franchise Tax may compute their tax liabilities under several...more

Business Rates: Looking Ahead in 2016 – The Good, The Bad and The Maybe

Business rates are charged on the majority of commercial properties, such as shops and offices, and represent one of the largest overheads for businesses. They are calculated using the rateable value of the property (the...more

IRS Confirms that Flip Partnership Guidelines Do Not Apply to Solar Projects

The IRS has advised that the flip partnership guidelines under Rev. Proc. 2007-65, 2007-2 C.B. 967, do not apply to solar facilities or other projects claiming the Section 48 investment tax credit (ITC). The statement, made...more

How ESOPs Can Be Beneficial for Construction Companies

What Is an ESOP? First and foremost, an ESOP is an employee benefit plan that is qualified for tax-favored treatment under the Internal Revenue Code of 1986, as amended (IRC). However, an ESOP can also be a tool of...more

FCA affirms the importance of GAAP in computing liability for LCT rejecting the Crown’s economic substance argument

The Federal Court of Appeal has once again affirmed the importance of Generally Accepted Account Principles (GAAP) in computing liability for the large corporation tax (LCT) applicable prior to 2006 while rejecting the...more

New York State Sales Tax Update

New York's Department of Taxation and Finance has adopted a policy providing limited relief for certain individuals assessed as responsible persons on behalf of limited liability companies or limited partnerships....more

Owe Back Taxes? Beware of Hiring "Quick Fix" Firms

If you are struggling to pay your taxes, the last thing you need is to lose more money to a bogus scheme, and it is important that you be alert to the dangers of a quick fix to resolve any big tax bills....more

Business Formation Q&A

Summarizes the different types of business entities and formational documents involved....more

PA Notes

Sales & Use Tax - Building and Pole Signs: The sale of a building or pole sign may qualify as a “construction contract,” where the vendor installs the sign to become permanently affixed to the real estate. While no tax is...more

Renewable Energy Law: Federal Stimulus Provides Major Funding for Renewable Energy and Energy Conservation

The economic stimulus package passed by Congress and signed today by President Obama contains good news for supporters of renewable energy and energy conservation. The American Recovery and Reinvestment Act of 2009 provides...more

Green Building Update - October 1 , 2008

In this issue: *U.S. House kills Senate Bill to extend solar tax credits *USGBC awards $2 million in research grants *DOE awards $15 million as part of Net-Zero *Venture Capital interested in Green...more

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