News & Analysis as of

Urban Planning & Development Tax Planning

Brownstein Hyatt Farber Schreck

Unlocking Tax Increment Finance for Counties via County Revitalization Authorities

Counties in Colorado may soon have a new way to take advantage of tax increment financing (“TIF”). Currently, there are only two ways to leverage TIF in Colorado: establishment of an urban renewal authority (“URA”) or...more

Williams Mullen

The American Families Plan: Tax Implications for Real Estate Owners and Developers

Williams Mullen on

On April 28, 2021, President Biden announced a plan to expand benefits for lower- and middle-income Americans under his “American Families Plan” (the “Plan”). To pay for the Plan’s benefits, President Biden has proposed...more

Kramer Levin Naftalis & Frankel LLP

The New York State Brownfield Cleanup Program: Budget Updates and Looking Ahead to an Extension

Governor Cuomo’s FY 2022 Budget provides relief to participants in the New York State Brownfield Cleanup Program (BCP) that risk losing their Tangible Property Tax Credit due to pandemic-related and other delays....more

Orrick, Herrington & Sutcliffe LLP

IRS Finalizes Guidance Relating to Carbon Capture and Sequestration

On January 6, 2021, the IRS issued final regulations relating to section 45Q. This is the fourth piece of guidance from the IRS relating to section 45Q, following IRS Notice 2020-12, Revenue Procedure 2020-12, the Proposed...more

Mayer Brown

IRS Issues Final Carbon Capture Regulations

Mayer Brown on

On January 6, 2021, the US Internal Revenue Service (the “IRS”) issued final regulations (T.D. 9944) (the “Final Regulations”) on the Section 45Q carbon capture tax credit (the “Carbon Credit”). The Final Regulations...more

Morgan Lewis

Largely Taxpayer-Friendly Final Regulations Released Under Section 45Q Carbon Capture Credit

Morgan Lewis on

The US Department of Treasury and the Internal Revenue Service released anticipated final regulations pertaining to the federal income tax credit for carbon capture projects under Section 45Q of the Internal Revenue Code on...more

Morgan Lewis

IRS Provides COVID-19 Pandemic Relief for Qualified Opportunity Zone Investments

Morgan Lewis on

With the issuance of Notice 2020-39 (the Notice), the Internal Revenue Service (IRS) has provided relief for Qualified Opportunity Zone Funds (QOFs) and for investors in QOFs. While the relief provided in the Notice does not...more

Morgan Lewis

IRS Releases Proposed Regulations for Carbon Sequestration Tax Credit

Morgan Lewis on

The proposed regulations, released on May 28 and on which taxpayers may currently rely pending finalization, build on prior guidance for carbon capture and sequestration tax credits under Section 45Q of the Internal Revenue...more

Orrick, Herrington & Sutcliffe LLP

Developers and Tax Equity Investors Receive Section 45Q Carbon Capture and Sequestration Credit Program Guidance

The IRS issued guidance in February 2020 for the Section 45Q tax credit program, which is aimed at supporting carbon capture and sequestration. The guidance reflected comments received by the IRS in response to Notice...more

Morgan Lewis

IRS Releases Critical Guidance on Carbon Capture Tax Credits

Morgan Lewis on

The guidance issued on February 19 by the Internal Revenue Service is the type that the carbon capture and storage industry had sought, and will hopefully open up the market for investment by eliminating tax-related...more

Nossaman LLP

P3 Industry Gets An Early Holiday Present In IRS Guidance On Interest Deduction

Nossaman LLP on

Contractors and investors in P3s can continue taking a full tax deduction for interest on debt under recent IRS guidance (Revenue Procedure 2018-59, issued November 26). ...more

Pierce Atwood LLP

Don't Leave Money on the Table! Air and Water Pollution Control Facility Tax Exemptions

Pierce Atwood LLP on

With the economy improving, Maine has experienced a spurt of new or expanded commercial and industrial developments. ...more

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