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Economic Development Tax Exemptions

Snell & Wilmer

Property Owned by Non-Indians and Located on Tribal Land Is Subject to Property Tax

Snell & Wilmer on

Generally, tribal lands held in trust by the federal government are exempt from state and local taxation under Section 5 of the Indian Reorganization Act of 1934 (the Act). However, when non-Indians are involved in ownership...more

Stevens & Lee

Supreme Court of Pennsylvania Boosts Tax-exempt Bond Financing and Economic Development in the Commonwealth

Stevens & Lee on

On Feb. 21, the Supreme Court of Pennsylvania issued its long-awaited tax-exempt bond financing decision, Ursinus College v. Prevailing Wage Appeals Board (No. 18 MAP 2023). Its opinion is a major victory for Pennsylvania...more

Davidoff Hutcher & Citron LLP

Hamilton was Right…IDAs are the Catalyst for Private Sector Growth!

The father of the American banking system is also the father of economic development (too bad this part of Hamilton’s legacy did not make it into the musical!). To maximize economic development, help launch new...more

Akerman LLP

Extension of Incentive Programs in New York State’s 2024 Budget

Akerman LLP on

On May 1, 2023, the New York State Legislature voted to adopt the Fiscal Year 2024 budget which included the renewal and extension of the sunset date of five programs that abate real estate taxes, reduce commercial rent tax,...more

Bradley Arant Boult Cummings LLP

New Act Simplifies Payment in Lieu of Tax Transactions and Reduces Red Tape for Industrial Development Boards - Economic...

On April 30, 2019, Tennessee Gov. Bill Lee signed into law Public Chapter No. 265 (Senate Bill No. 708 or “S.B. 708”), amending the provisions of Tenn. Code Ann. § 67-5-502 relating to the taxation of leasehold interests....more

McAfee & Taft

Gavel to Gavel: What’s all the buzz with opportunity zones?

McAfee & Taft on

Have you heard? The major tax reform enacted at the end of 2017 created a new tax incentive to encourage investments in designated low-income areas called opportunity zones. Originally published in The Journal Record |...more

Akin Gump Strauss Hauer & Feld LLP

Opportunity Zones: New Guidance Sheds Light on How Private Equity Industry Can Take Advantage

• Proposed regulations issued on October 19 provide welcome guidance to asset managers regarding the formation of qualified opportunity funds (QOFs) that may provide investors with the following three tax benefits: (1)...more

Hogan Lovells

Tax Exemptions in the Act on Support for New Investments

Hogan Lovells on

A government draft of an Act which purpose is to introduce new mechanisms to support entrepreneurs in making new investments (hereinafter referred to as the “Draft Act”) has been submitted to the Lower Chamber of the Polish...more

Orrick, Herrington & Sutcliffe LLP

IRS Focuses on Tax Exempt Financings Involving Developers

For a number of years, the IRS Office of Tax-Exempt Bonds ("TEB") has expressed concerns about potential tax abuses that may exist in what it has characterized as "developer-driven deals" involving the use of tax-exempt...more

Burr & Forman

New Property Tax Exemption for All South Carolina Manufacturers

Burr & Forman 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

Benesch

The Economic Development Toolbox: Downtown Redevelopment Districts Provide Additional Economic Development Tools for Ohio...

Benesch on

On May 6, 2016, Governor Kasich signed Am. Sub. House Bill 233 (“H.B. 233”) authorizing Ohio municipalities to create Downtown Redevelopment Districts (“DRDs”) to encourage the rehabilitation of historic buildings and...more

Burr & Forman

South Carolina Economic Development Incentives: Sales and Use Tax Exclusions and Exemptions

Burr & Forman on

Sales Tax: In South Carolina, a 6% sales tax is imposed upon every person engaged within this State in the business of selling tangible personal property and other types of goods and services sold at retail. Voters in...more

Morgan Lewis

Russia’s New Advanced Development Territories Law: Far East Focus

Morgan Lewis on

An initiative to spur investment in this underdeveloped region. Amid the ongoing loud noise surrounding the situation in Ukraine (and in Syria) and the related sanctions and counter-sanctions, a new Russian development...more

Benesch

The Economic Development Toolbox: “The Clean-Up Hitters” – Enterprise Zone and Community Reinvestment Area Property Tax Exemptions

Benesch on

Capital investment projects often involve tight margins, and every single dollar counts to ensure that the project is a success. For that reason, property tax exemptions are key components of any economic development...more

Dentons

Doing Business In Iowa

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ABOUT IOWA - A. Population and Geography - Centrally located in the United States, the state of Iowa is characterized by rich agricultural land, with wetlands, woodlands, and prairie throughout. The state...more

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