News & Analysis as of September 19, 2024

Income Taxes › Contaminated Properties

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Massachusetts Brownfields Tax Credit

Sullivan & Worcester on 7/22/2021

In a bid to rehabilitate the Brownfields Tax Credit ("BTC") application and approval process, the Massachusetts Department of Revenue ("DOR") has issued final regulations (830 CMR 63.38Q.1) and new administrative procedures...more

Governor Baker Extends the Brownfields Tax Credit Program Until 2023

Bowditch & Dewey on 10/3/2018

The Brownfields Tax Credit program was due to expire on August 5, 2018. However, on May 31, 2018, Governor Baker signed the Housing Bond Bill, H4536, which, among other things, extended the Brownfields Tax Credit program for...more

Are You Getting All of Your Brownfields Tax Credits?

Goulston & Storrs PC on 6/19/2018

While Massachusetts first created a Brownfields tax credit in 1998 to encourage the redevelopment of Brownfields sites, until recently, this very useful tax credit was in danger of becoming history. ...more

CT Creates New Brownfields Program, Adopts Brownfields Tax Credit

Holland & Knight LLP on 10/31/2017

Buried in an 881-page budget bill passed Thursday by the Connecticut General Assembly was a new program to support remediation and reuse of brownfields – properties long contaminated and underutilized – as well as new job...more

Seeing Green: New York’s Reformed Brownfields Cleanup Program Creates Opportunities for Redevelopment to Generate Refundable Tax...

McDermott Will & Emery on 7/22/2015

Now is the time to begin brownfield redevelopment projects in the State of New York. Reauthorization of and reforms to New York’s Brownfields Cleanup Program, which provides tax credits to redevelop contaminated properties,...more

Client Alert: Colorado Bill S.B. 73 Establishes Income Tax Credit for Cleanup of Contaminated Brownfield Sites

Clark Hill PLC on 5/28/2014

As a lawyer in Colorado focusing a large part of my practice on environmental due diligence including Brownfield sites, I had the great pleasure of participating in the drafting of Senate Bill 73, which was signed into law by...more

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