News & Analysis as of

Tax Abatement

Nevada's Renewable Energy Program Getting The Partial Abatements/Exemptions

by Dickinson Wright on

Nevada enacted a Renewable Energy Tax Abatement program in 2009, which it operates under the Governor’s Office of Energy (“GOE”). For eligible renewable energy facilities, the program awards partial abatements for sales and...more

GASB 77 - What Is It, And How Can We Prepare?

What is GASB 77 and why does it exist? GASB 77 is an accounting pronouncement applicable to the financial statements of state and local governments. In order for their financial statements to be prepared in accordance with...more

Jersey City’s PLA Ordinance Found Preempted by NLRA and ERISA and Void Ab Initio

by Genova Burns LLC on

On June 15 U.S. District Court Judge Wigenton determined that Jersey City’s ordinance, in effect since 2007 and providing for tax abatements for real estate developers that sign Project Labor Agreements (PLAs) is preempted by...more

South Carolina County Government Must Give Taxpayers a Hearing on Property Tax Penalty Where the Taxpayer Raises County Error

by McNair Law Firm, P.A. on

If South Carolina property taxes are not timely paid, the county Assessor must assess a late-payment penalty. However, the county Treasurer is given authority to waive an assessed late payment penalty if a taxpayer can...more

New York State lawmakers pass final budget

by Dentons on

The weekend of April 9 saw the passage of the New York State budget after the state Assembly and Senate, respectively, closed out Saturday and Sunday legislative sessions at the state Capitol in Albany. The final passage...more

SJC Issues Property Tax Ruling Regarding Religious Organization

by Foley Hoag LLP on

In a noteworthy development relevant to property tax exemptions for religious organizations in the Commonwealth, the Supreme Judicial Court issued a ruling on March 22, 2017 in Shrine of Our Lady of La Salette Inc. v. Board...more

Property Tax & Valuation Topics - Winter 2017

by Pullman & Comley, LLC on

On September 30, 2016, the Connecticut Supreme Court heard oral argument in Nutmeg Housing Development Corp. v. Colchester. On the face of it, the ad valorem valuation of a garden variety property in the suburbanizing Town...more

Tax Amnesty Is Back in Arizona

by Buchalter on

The State of Arizona’s 2016 amnesty program offers significant benefits to most individuals and corporations with past-due taxes. Once again, Arizona taxpayers with many types of past-due state and local taxes will have...more

Virginia Supreme Court Opinions Affecting Local Government Law: September 15, 2016

by Sands Anderson PC on

The Virginia Supreme Court issued two opinions in September affecting local government law. Its work resulted in opinions addressing legislative privilege from document requests, and applying a local government tax exemption...more

Local Tax Incentives Tied to Use of Union Labor —Preempted by the NLRA?

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Third Circuit rejects market-participant argument, opening the door for preemption challenge to local law tying tax incentives to use of union labor. The case before the Third Circuit, Associated...more

Flynn v. Commissioner of Revenue: What Are the Prerequisites for a Massachusetts Tax Appeal?

by M. Robinson & Company, P.C. on

Recent decisions by the Massachusetts Appellate Tax Board (ATB) illustrate that a taxpayer must fulfill three prerequisites in order to obtain ATB jurisdiction in tax appeals against the Commissioner of Revenue...more

New Governmental Accounting Standards Board (“GASB”) Rules Require Governments to Disclose Tax Abatement Agreements in Financial...

State and local governmental entities (“Governments”) nationwide will soon face new financial statement disclosure requirements regarding existing tax incentive agreements. While the GASB encourages Governments to begin...more

MassTaxConnect: Massachusetts Business Taxpayers and Tax Professionals Await Rollout of New Secure Website on November 30, 2015

The Massachusetts Department of Revenue (“DOR”) released a training video about MassTaxConnect, the new secure website for tax administration in Massachusetts, on September 18, 2015. MassTaxConnect is scheduled for a rollout...more

GASB Issues Final Rule on Financial Reporting of Tax Abatements

by Alston & Bird on

On August 15, 2015, the Government Accounting Standards Board (GASB) issued Statement No. 77 (the “Tax Abatement Standard”) concerning financial reporting of tax abatements and other economic development incentives that...more

Should Companies Adjust Their Incentive Strategies in Light of New Governmental Accounting Disclosure Requirements?

by McDermott Will & Emery on

Earlier this month, the Governmental Accounting Standards Board (GASB) approved Statement No. 77, Tax Abatement Disclosures, which requires state and local governments to report on foregone revenue from tax abatement...more

Maybank on the Government Accounting Standards Board issued Statement No. 77, Tax Abatement Disclosures - Tax and Economic...

by Nexsen Pruet, PLLC on

Today, August 15, 2015, the Government Accounting Standards Board issued Statement No. 77, Tax Abatement Disclosures. It will generate quite a bit of work for local government. In fact, it may force counties to organize...more

The Illinois Attorney General Offers To Settle False Claims Act Cases Against Wineries - Just as Reed Smith Obtains Private Letter...

by Reed Smith on

On July 23, 2015, the Illinois attorney general issued a group settlement proposal to the defendants in its Illinois False Claims Act (“IFCA”) prosecutions of numerous out-of-state wineries. For at least the last decade, the...more

First Time Abate

by Charles (Chuck) Rubin on

Taxpayers who file a return late, make a late payment, or make a late tax deposit are subject to penalties. What is not known by most taxpayers, and a lot of tax practitioners, is that the IRS has a program to abate these...more

Spot Assessment Stricken

by Cozen O'Connor on

A divided panel of The Commonwealth Court of Pennsylvania held that a reassessment of property upon the expiration of a KOZ abatement was an unlawful spot assessment. Duke Energy Fayette II, LLC v. Fayette County Board of...more

Can the IRS Abate Interest and Penalties That Have Already Been Paid?

by Charles (Chuck) Rubin on

A taxpayer filed a late tax return, and paid with it interest and penalties based on the tax due. The taxpayer then filed a time-barred refund claim, providing that the tax amount due was overstated on the original return....more

A Year’s Review of Massachusetts Tax Cases

by McDermott Will & Emery on

Allied Domecq Spirits & Wines USA, Inc. v. Comm’r of Revenue, 85 Mass. App. Ct. 1125 (2014) - In a unique case, the Massachusetts Appeals Court affirmed a ruling of the Appellate Tax Board (ATB) that two corporations...more

House Bill 59, Alabama Reinvestment and Abatements Act, Expands Alabama Abatements Significantly

The Alabama Reinvestment and Abatements Act, HB59, Act No. 2015-24 (the “Act”), makes several changes to Alabama abatement law and expands the list of industries and types of projects that are eligible for those abatements....more

Tax Assessment Appeal Preserved

by Cozen O'Connor on

The Commonwealth Court en banc held that a tax appeal from an interim assessment dated September 27, 2012 was properly preserved, notwithstanding that the taxpayer did not appeal a subsequent assessment that reflected a tax...more

Community College Allowed to Proceed with Complaint of Over Abatement of Property Taxes

by Franczek Radelet P.C. on

The Illinois Appellate Court recently allowed Illinois Valley Community College District No. 513 and several county governments to proceed with a complaint challenging the administration of a property tax abatement. At issue...more

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