On Tuesday, October 18, 2022, Bousquet Holstein Attorneys Anna Putintseva and Kevin Sayles presented at the Geology Days Conference hosted by the New York State Council or Professional Geologists.
In her presentation, Anna discussed practical and legal entity selection considerations and provided an overview and pros and cons of various business structures available for professional geology practice. The attendees were able to develop an understanding of the factors important for the entity selection determination and identify an appropriate structure for their professional practice.
In his presentation, Kevin discussed tax credit implications from the new 2022 legislation and proposed Part 375 Regulations, as well as best practices for record keeping in anticipation of the inevitable audit of a brownfield tax credit claim by the NYS Tax Department. The attendees were able to identify the key differences in the Brownfield Cleanup Program under the 2022 legislation, and have a more detailed understanding of the NYS audit process.