News & Analysis as of

Tax Credits

New York Governor Signs Bill On Bioheating Fuel Requirements

by Bergeson & Campbell, P.C. on

The National Biodiesel Board (NBB) announced that on September 13, 2017, New York Governor Andrew Cuomo signed legislation that introduces bioheating fuel tax credits and bioheating fuel tax requirements to three New York...more

Boletín Mensual de Comercio Internacional - Agosto - Información con énfasis en la Regulación Comercial y de Arbitraje...

by Holland & Knight LLP on

Durante el mes de agosto destacan los siguientes temas: Comercio, Acceso, Prácticas desleales, Propiedad Intelectual, MIPyMEs y Arbitraje de Inversión....more

Senate Bill 628 Update

by Smith Anderson on

Two previous Tax Alerts, Tax Provisions in the 2017 Budget Bill (June 20, 2017) and Tax Legislation Enacted During the Regular Session of the 2017 North Carolina General Assembly (June 30, 2017), summarized the major tax...more

Tax Reform And Taxing Big Oil

by King & Spalding on

Senator Robert Menendez, with twenty-one of his Democratic colleagues as co-sponsors, has introduced legislation that repeals the energy tax incentives for the country’s five largest oil companies. In a statement, Senator...more

HUD Releases 2018 Qualified Census Tract & Difficult Development Area Designations

by Ballard Spahr LLP on

On September 11, 2017, HUD published a Notice designating the 2018 Qualified Census Tracts (QCTs) and Difficult Development Areas (DDAs) for the Low Income Housing Tax Credit (LIHTC) program. Qualified Census Tracts are those...more

Baldwin County Circuit Court Dismisses ADOR’s Appeal in Moody

Two weeks ago, the Baldwin County Circuit Court entered an order dismissing the Alabama Department of Revenue’s (ADOR) appeal from the February 2017 decision by the Alabama Tax Tribunal in Moody v. Alabama Department of...more

Practical Issues Facing Nonprofits Structuring New Market Tax Credit Deals

by Blank Rome LLP on

Since the Great Recession, nonprofits have been receiving less support from budget-constrained governmental agencies and fewer contributions from the private sector. Similarly, many state and other nonprofit universities have...more

New Tax Credit for Student Loan Debt - Time Sensitive!

by Pessin Katz Law, P.A. on

Are you a Maryland resident? Do you have student loan debt? Well, good news – you may be eligible for a new tax credit on your 2017 tax return!...more

New School Funding Bill on The Way to The Governor’s Desk

by Franczek Radelet P.C. on

The rollercoaster ride of the past weeks on school funding is coming to an end as the General Assembly has passed a new compromise bill that is expected to be signed by Governor Rauner as early as the end of this week. ...more

Department of Revenue Issues Favorable Ruling for Tax Credit Scholarship Donors - State & Local Tax Alert: Alabama Edition

Since the landmark Alabama Accountability Act was enacted in 2013, allowing individual and corporate donors to provide scholarship funds for underprivileged children in our state who are zoned for underperforming public...more

GHA Implements Georgia Rural Hospital Expense Tax Credit Program for Employees

by Arnall Golden Gregory LLP on

In 2016, the Georgia Legislature passed the Rural Hospital Tax Credit Program that provides a state income tax credit that is designed to encourage Georgians to financially contribute to qualified rural hospital...more

Gig Economy Can Harness Power From Refugees And Immigrants

by Fisher Phillips on

As the U.S. unemployment continues to drop to pre-recession levels, the supply of motivated and qualified workers is tightening. Gig economy businesses competing for a shrinking supply of labor may want to consider turning to...more

New Property Tax Exemption for All South Carolina Manufacturers

by McNair Law Firm, P.A. on

The South Carolina Infrastructure and Economic Development Reform Act, 2017 Act 40, was recently enacted and is designed to enhance South Carolina’s economic competitiveness. The Act, commonly referred to as the gas tax bill,...more

Recess Update on the Affordable Care Act and Its Repeal and Replacement

by Ballard Spahr LLP on

The momentary lull in congressional activity on health care provides an opportune time for an update on the efforts to repeal and replace the Affordable Care Act (ACA)....more

FY 2018 Sequestration Reduction Percentage for Direct Pay Tax Credit Bonds Set at 6.6 Percent

by Bracewell LLP on

According to an update released by The IRS Office of Tax Exempt Bonds, the sequester reduction percentage applied to the payments made to issuers of direct pay bonds in fiscal year 2018 will be 6.6 percent. This percentage...more

IRS Rejects Investors' Claim for Refined Coal Credits in Technical Advice

by King & Spalding on

In Technical Advice Memorandum 2017-29-020 (July 21, 2017) (the “TAM”), the IRS denied claims by two tax equity investors (the “Investors” or each an “Investor”) for renewable energy tax credits on grounds that the...more

Captive Insurance Update | Issue No. 1 | 2017 - A summary of state and federal developments in the captive insurance industry

Changes at the Top - Republican Phil Scott was elected Governor of Vermont in November 2016, having previously served as Lieutenant Governor for six years. Governor Scott has re-appointed Michael Pieciak to serve as the...more

IRS Rules (Again) That Taxpayers Are Not Entitled to Claimed Refined Coal Credits

by McDermott Will & Emery on

In a highly-anticipated Technical Advice Memorandum (TAM) dated March 23, 2017 and released on July 21, 2017, the Internal Revenue Service (IRS) ruled that two taxpayers who had invested in a Limited Liability Company that...more

State Legislature Reaches Agreement on Extension of the Greenhouse Gas Cap-and-Trade Program; Stops the Bay Area Air Quality...

by Downey Brand LLP on

As posted in CEQA Chronicles, on July 17, 2017 the California legislature approved an extension of the state’s greenhouse gas cap-and-trade program from 2020 to 2030. Cap-and-trade is a key program in the state’s efforts to...more

Updated Health Care Reform Legislation Comparison Chart

The chart below compares key provisions of the Affordable Care Act (ACA), the American Health Care Act (AHCA) and the Better Care Reconciliation Act (BCRA). This chart is current as of July 13, 2017, and as of that date,...more

MoFo New York Tax Insights - Volume 8, Issue 7

by Morrison & Foerster LLP on

ALJ Holds that Executive Changed His Domicile to Paris and Was Not a New York Resident - A New York State Administrative Law Judge has held that an individual who retired as chief financial officer of Colgate-Palmolive...more

Senate's Updated Draft Better Care Reconciliation Act Changes Provisions Affecting Employers

by Holland & Knight LLP on

The U.S. Senate Republicans on July 13, 2017, released an updated discussion draft of the Better Care Reconciliation Act of 2017 (BCRA), its bill to repeal and replace the Affordable Care Act (ACA). As we have outlined in a...more

Applying Georgia's Angel Investor Tax Credits to Convertible Promissory Notes

by Taylor English Duma LLP on

A friend recently asked if the Georgia Angel Investor Tax Credit program would cover an angel investor’s investment in a start-up’s convertible promissory note. It was a good question because start-ups often raise funds...more

Tribal Tax Parity Legislation Gains Ground in Congress

by Holland & Knight LLP on

In the past month, members of Congress have introduced two important bills that promote parity for tribal governments and their tribal council members. The Tribal Social Security Fairness Act would allow tribal...more

Argentina's Law 27,263 is strongly criticized at the WTO Market Access Committee for local content requirements in the automotive...

by King & Spalding on

At an informal meeting of the WTO Market Access Committee on 23 June 2017, several WTO Members raised concerns about Argentine Law No. 27,263‘Regime for the Development and Strengthening of the Argentine Auto-Parts Industry:...more

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