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Investment Tax Credits Income Taxes

MoFo New York Tax Insights - Volume 8, Issue 5

by Morrison & Foerster LLP on

Final 2017-18 New York State Budget Bill Enacted - The New York State Budget Bill was enacted by the New York State Legislature and signed into law by Governor Andrew M. Cuomo. S. 2009-C, A. 3009-C. Among the Governor’s...more

Hodgson Russ LLP’s Report on the 2017-18 New York State Budget

by Hodgson Russ LLP on

On April 10th, the New York State budget for 2017-18 was signed into law. The highlights of the revenue provisions are summarized below....more

Oklahoma Tax Commission 2017 Proposed Rules Changes

by GableGotwals on

The Oklahoma Tax Commission has published 2017 proposed changes and additions to its rules governing administration of Oklahoma taxes. Tax Commission rules are adopted and published as part of the Oklahoma Administrative...more

Governor Cuomo’s Fiscal Year 2018 New York State Executive Budget

by Reed Smith on

On January 17, 2017, New York State Governor Andrew Cuomo released his 2017-2018 New York State Executive Budget and accompanying legislation. It contains proposed amendments to New York State’s personal income tax, corporate...more

The Cost of Clarity: IRS Issues Regulations Addressing Proper Treatment of Code Section 50(d) Income

by Williams Mullen on

On July 21, 2016, the IRS issued long-awaited regulations under Section 50 of the Internal Revenue Code (the “Code”) clarifying the manner in which “Section 50(d) Income” is to be recognized in lease pass-through investment...more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

by Foley & Lardner LLP on

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat...more

IRS Releases Favorable Guidance for Individual Investors in Community Solar to Claim Section 25D Tax Credit

by Foley & Lardner LLP on

The IRS recently issued a Private Letter Ruling (PLR) clarifying that an individual investor in a net-metered community solar project may claim the federal residential Investment Tax Credit (ITC) under Section 25D of the...more

New Maine Budget Would Make Numerous Tax Changes

by Pierce Atwood LLP on

Hoping to avoid a potential government shutdown, this week the Legislature passed a biennial budget that once again makes significant tax changes, but stops well short of the major tax reform desired by many legislators. The...more

The Best of a Bad Investment

by Morrison & Foerster LLP on

A recent tax case out of the Fifth Circuit approved a taxpayer’s strategy to make the best of a bad investment. According to the facts of Pilgrim’s Pride v Commissioner, the taxpayer purchased preferred stock from two...more

Inside the New York Budget Bill: Apportionment

by McDermott Will & Emery on

The New York Legislature has passed bills related to the 2015–2016 budget (S2009-B/A3009-B and S4610-A/A6721-A, collectively referred to herein as the “Budget Bill”) containing several significant “technical corrections” to...more

Comparison of Economic Development Incentives for South Carolina and North Carolina

by Nexsen Pruet, PLLC on

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

Estate, Gift, and GST Taxes in 2013: American Taxpayer Relief Act of 2012 and Other News (Oregon)

The American Taxpayer Relief Act of 2012 (the “Act”) was signed into law on Jan. 2, 2013, avoiding dramatic changes to tax exemptions and tax rates on transfers subject to federal estate, gift, and generation-skipping...more

After the Love is Gone – Tax Planning Considerations for Private Equity and Venture Capital Fund Managers in a Post-Carried...

by Gerald Nowotny on

Overview - The issue of carried interest taxation as obscure an issue as it is, has gotten all kinds of attention in the media over the last several years. Most recently, the issue garnered national attention during...more

Energy-Related Tax Provisions of the American Taxpayer Relief Act of 2012

On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (the “Act”). President Obama signed the Act into law on January 2, 2013. The Act contains multiple business tax provisions. The following is a...more

Fiscal Cliff Tax Changes

by Pepper Hamilton LLP on

On New Year’s Day 2013, the “American Taxpayer Relief Act of 2012” (the Act) was enacted to avoid the impact of automatic “fiscal cliff” tax increases. The Act, effective January 1, 2013, retains and makes permanent the...more

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