News & Analysis as of

Tax Credits

Income Averaging Set-Aside – Opportunities and Risks

by Miles & Stockbridge P.C. on

The Consolidated Appropriations Act of 2018, which was signed into law on March 23, 2018, included two provisions affecting the low-income housing tax credit (“LIHTC”) program. One provision temporarily increased the total...more

Focus on Innovative Start Ups

A company strongly inclined to technological innovation with no limitations as to the sector (from digital to manufacturing, from trade to agriculture) - Did you know there are many tax benefits (and otherwise) in the...more

How to Avoid Trumping Non-Disclosure Agreements

by Gray Reed & McGraw on

In the summer of 2016 Stormy Sultry aka Peggy Peterson and Dennis Duck aka David Dennison engaged in some alleged hanky-panky....more

Internal Revenue Service’s LB&I Division Announces Six More Compliance Campaigns

by Fox Rothschild LLP on

Yesterday the Internal Revenue Service’s Large Business and International Division announced that it was adding six more compliance campaigns to its previously-announced list of 29 such campaigns. The compliance campaigns...more

Expansion of TTB Wine Excise Tax Credit “Alternate Procedure”

by Davis Wright Tremaine LLP on

This advisory is an update to DWT’s prior advisory on the Tax Cuts and Jobs Act of 2017 (the “Act”), dated March 7, 2018. On May 17, 2018 the TTB formally expanded the use of the “alternate procedure” or “transfer by...more

TTB Extends Alternate Procedure For Excise Taxes Credits through 2019

Yesterday, May 17, 2018, TTB announced in Industry Circular 2018-1A that it is extending until December 31, 2019 the ”Alternate Procedure” under which wine producers can tax pay wine stored at bonded tax wine cellars (“BWC”)...more

CDFI Fund Issues $3.5 Billion Notice of Allocation for New Markets Tax Credits

The annual application period has opened for businesses and other organizations that want to invest in distressed communities with the help of federal tax credits. This week, the Community Development Financial...more

OIRA Updates Unified Agenda for Spring 2018

by McGuireWoods LLP on

The Office of Information and Regulatory Affairs has updated its Unified Agenda of Regulatory and Deregulatory Actions for Spring 2018, providing a comprehensive look at the federal agencies’ rulemaking plans in the...more

Impacts of the Omnibus Spending Plan on the Affordable Housing Industry

Trump’s Omnibus Spending Plan adopts two key provisions from the proposed Affordable Housing Credit Improvement Act that will strengthen and expand low-income housing credit. 2018 spending plan increases housing credit...more

Compensation and Benefits Insights - April 2018

by King & Spalding on

New federal tax credit for employer-paid family and medical leave-- Is it an opportunity your Company should consider? - Employers providing, or thinking about providing, paid family and medical leave may be able to...more

Employment Law This Week®: NJ’s Equal Pay Act, FLSA Opt-Ins, “Ambush Election” Rule, Guidance on New Tax Credit

by Epstein Becker & Green on

We invite you to view Employment Law This Week® - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

Vermont Legislative Update 04-27-2018 - An analysis from DRM's Government & Public Affairs Team

by Downs Rachlin Martin PLLC on

House Upholds Veto of S.103 - The House this week failed to overturn the first veto of the session when a 94-53 roll call vote fell four votes short of the two-thirds majority needed to override the governor’s action on...more

Pending campaigns and elections legislation

by Bricker & Eckler LLP on

As with every General Assembly, the Ohio Legislature introduces countless measures related to Ohio’s elections and campaign finance laws. These proposals range from amending Ohio’s laws for voter registration to allocating...more

Capturing Carbon — Tax Credits: A Reinvigorated Climate Opportunity for Developers and Investors

by Morrison & Foerster LLP on

The powerful momentum behind clean energy promises real progress in the fight against global climate change. Mounting scientific evidence urges, however, that to win: We cannot just reduce the carbon-intensity of the energy...more

IRS Releases 2018 PTC Amounts

by Foley & Lardner LLP on

The IRS just published its annual notice that provides the inflation adjustment factors and reference prices used in determining the amount of the section 45 production tax credit (PTC) for the production of renewable energy...more

IRS Issues Guidance FAQs Regarding The Paid Family Leave Federal Tax Credit

by Jackson Lewis P.C. on

This week, the Internal Revenue Service (IRS) issued FAQ guidance regarding the employer tax credit for paid family and medical leave. As a reminder, the Tax Cuts and Jobs Act of 2017 (the Act) provides a tax credit to...more

New IRS Revenue Procedure Expands the Range of Remedial Measures for Nonqualified Uses

by Sherman & Howard L.L.C. on

On April 11, 2018, the Internal Revenue Service published Revenue Procedure 2018-26 ("Rev. Proc. 2018-26") which sets forth new remedial measures that issuers may utilize to preserve the tax-exempt or tax-advantaged status of...more

IRS Issues FAQs on Paid Family and Medical Leave Tax Credit

by Littler on

The IRS has issued FAQs to provide guidance to employers relating to portions of the newly enacted Tax Cuts and Jobs Act of 2017 that created the Paid Family and Medical Leave Tax Credit....more

Draft North Carolina Tax Legislation Released

by Smith Anderson on

On April 11, 2018, the General Assembly’s Revenue Laws Study Committee released a draft tax bill for possible introduction in the legislative session that convenes May 16. This Alert provides a summary of the more important...more

New York’s Response to Federal Tax Reform: Charitable Contributions Credit

by McDermott Will & Emery on

In an effort to mitigate the effects of the elimination of the individual SALT deduction as part of federal tax reform, New York has enacted a charitable contribution regime under which individuals may contribute to state or...more

Captive Insurance Update | Issue No. 1 | 2018 - A summary of state and federal developments in the captive insurance industry

by Downs Rachlin Martin PLLC on

Vermont’s leadership team for captive insurance was remarkably stable in 2017. Governor Phil Scott and Michael Pieciak, the Commissioner of the Department of Financial Regulation (the “DFR”), completed their first full year...more

The New York State Budget: New Tax Code and Record Funding for Education

by Harris Beach PLLC on

The recent passage of the state’s budget, which took effect on April 1, 2018, aims to provide relief to the middle class to combat the change in federal tax law. New York is making a concerted effort to protect...more

Report on Executive Budget

by Hodgson Russ LLP on

On March 30th, Governor Cuomo announced that New York lawmakers passed the $168.3 billion FY 2019 Budget (the “Final Bill”). ...more

New Legislation Will Benefit Business Development Companies While Closed-End Funds Remain in Limbo

On March 23, 2018, President Donald Trump signed the Consolidated Appropriations Act of 2018 into law. This legislation includes the Small Business Credit Availability Act (SBCA), which contains numerous changes to...more

New York State Responds to Federal Tax Reform

On March 30, 2018, the New York Legislature passed the 2018–2019 Budget Bill (SB. 7509-C/A 9509-C) (Budget Bill), which addresses several provisions of the newly enacted Tax Cuts and Jobs Act (P.L. 115-97) (TCJA) and...more

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