Tax Credits

News & Analysis as of

Southeast State & Local Tax: Important Developments - March 2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of recent legislation around the U.S....more

Energy Policy and Tax Policy Are Inseparable

In his 2014 State of the Union address, President Obama championed our nation's energy policy and the tremendous progress that has been made in the development and production of fossil fuels, especially natural gas. The...more

The Assault on the ACA Continues in the Federal Appeals Courts

Combative oral arguments were seen in two high profile federal court challenges to the Patient Protection and Affordable Care Act of 2010 (ACA). The Supreme Court of the United States heard a vigorous oral argument...more

Affordable Care Act Update April 7, 2014: High Courts Vet Key Provisions Of The Affordable Care Act Government Extends Enrollment...

March 2014 has produced quite a bit of activity regarding the Patient Protection and Affordable Care Act ("ACA"). On March 24, 2014, oral argument was held in the latest challenges to the ACA in Sebelius v. Hobby Lobby...more

Perspectives - April, 2014

In This Issue: - Making Our Downtown Better Every Day - It's Good To "B" In Deleware - The Wonderful World of Limited Liability Companies - Ohio Bill to Allow Schools and Camps to Procure Epinephrine...more

Senate Finance Committee Passes Bill to Extend Certain Lapsed Tax Breaks

The Senate Finance Committee passed the Expiring Provisions Improvement Reform and Efficiency Act (EXPIRE Act) on April 3, 2014. The legislation would renew through 2015 more than 50 tax incentives that either have lapsed or...more

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

The First Dish is Served: Chairman Camp Unveils Comprehensive Tax Reform Discussion Draft

On February 26, 2014, House Ways and Means Committee Chairman Dave Camp (R-MI) unveiled his comprehensive tax reform proposal. Chairman Camp released his proposal in discussion draft form, and the bill was not officially...more

Congress Considers Clean Energy “Tax Extenders”

Senate Finance Committee to Mark Up Extenders Package - Three months after dozens of individual and business tax provisions expired, the Senate Finance Committee is poised to mark-up a bill tomorrow that would extend...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

Video games tax credit finally receives state aid approval

The European Commission has finally given the green light to the proposed UK video games tax credit which will now come into effect from 1 April 2014....more

Details on Amendments to the Minnesota Angel Tax Credit

Regular readers of entreVIEW are no doubt aware that the Minnesota Angel Tax Credit, a frequent topic of interest here, ran out of funds a few weeks ago. The $12.2 million available for issuance had been used up by early...more

Maine Tax Alert: Legislature Moves To Slash Pine Tree Zone Benefits And R&D Super Credit

The Supplemental Budget just released by the Legislature (LD 1843), if passed as written, may hurt Pine Tree Zone Business as well as businesses that engage in a substantial amount of research and development in Maine....more

Inside the New York Budget Bill Part Five: Net Operating Losses and Tax Credits

This is the fifth installment of a series that takes an inside look at the corporate tax reform proposals in Governor Andrew Cuomo’s 2014–15 New York Budget Bill. This proposed reform is sweeping and, if enacted, is likely to...more

Affordable Care Act Redux

Another delay in implementation of the Affordable Care Act (“ACA” or “Obamacare”) has prompted PK Law to update our material on the Act. Here are some points to bear in mind as March 31 approaches...more

Obama’s Plan to Ax the Solar Investment Tax Credit

In President Obama’s 2014 State of the Union address, he said: “Every four minutes, another American home or business goes solar; every panel pounded into place by a worker whose job can’t be outsourced. Let’s continue that...more

The Womble Carlyle Economic Development Digest - March 12, 2014

Womble Carlyle’s Economic Development Digest aggregates news, opportunities and legislation impacting business in the United States....more

FHA Low Income Housing Tax Credit Pilot Program Revisions

In February 2012, the United States Department of Housing and Urban Development (HUD) launched the FHA Low Income Housing Tax Credit Pilot program under the mandate of the Housing and Economic Recovery Act of 2008 for the...more

Camp Goes All-In with Comprehensive Tax Plan: Highlights, Tax Reform Status and Impact on Taxpayers

On February 26, Representative Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, released his much-awaited comprehensive tax reform plan (the “Camp Proposal”). That proposal seeks to cut marginal tax rates...more

Proposed Carried Interest Legislation Takes A Different Approach

On February 26, 2014, U.S. Rep. David Camp (R-MI), chairman of the House Ways and Means Committee, released a draft of the Tax Reform Act of 2014 (TRA 2014), which would provide for the most significant tax reform since the...more

Executory Forward SREC Contracts - What Exactly Does This Mean?

What happens to the payment for a solar renewable energy credit (SREC) when the payor closes its doors? Maryland citizens are finding out the hard way. The promises made to some of them are turning up empty....more

Renewable Energy Update -- March 4, 2014

Renewable Energy Focus - With $6.5 billion loan, nuclear energy gets new life in U.S. -- SustainableBusiness.com - Feb 24: Although Republicans lambasted Department of Energy (DOE) programs that support renewable energy...more

Feds’ Argument in Favor of Premium Tax Credit Gains Momentum, Still Under Attack in Federal Courts

A second federal district court judge has ruled in favor of the government on one of the most serious challenges to the Patient Protection and Affordable Care Act of 2010 (ACA). The court dismissed a challenge to the...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update (February 24, 2014)

This is a brief update on recent Pennsylvania tax developments. It is intended to provide an overview of issues and cases to watch, as well as administrative and legislative developments....more

Angel Tax Credit Update

Just as I was working on my latest entreVIEW post trying to avoid any “legal topic,” I felt compelled to provide an additional update on the Minnesota Angel Tax Credit. I know that, in his cold weather musings only earlier...more

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