Philip S. Bousquet, Julia J. Martin, Casey A. Johnson, Michael W. Tyszko, Kevin M. Sayles, Christy Vouri-Misso, Aaron C. Records
April 21, 2022
This has already been an eventful year for stakeholders interested in the New York Brownfield Cleanup Program (BCP). The recently enacted NYS budget included a ten-year extension of the tax credits under the BCP, as detailed in our recent alert. NYSDEC first announced in May 2017 (and then every year since) that it would issue
Read More »Philip S. Bousquet, Aaron C. Records, Casey A. Johnson, Julia J. Martin, Kevin M. Sayles, Christy Vouri-Misso, Michael W. Tyszko
January 28, 2022
On January 18, New York Governor Kathy Hochul issued proposed legislation to implement the Governor's Fiscal Year 2023 Executive Budget. The Transportation, Economic Development, and Environmental Conservation bill included in the Executive Budget would extend the tax incentives available for remediation and redevelopment of contaminated sites under New York's Brownfield Cleanup Program ("BCP") for ten
Read More »Michael W. Tyszko
February 11, 2020
In late December 2019, President Trump signed into law a wide-ranging appropriations bill which extended several temporary excise tax credits created by the 2017 Tax Cuts and Jobs Act ("Jobs Act") that were due to expire at the end of 2019. The tax credits, which correspond to an excise tax increase passed in 1990, have
Read More »Maria C. Zumpano, MBA, CPA, Kevin M. Sayles, Susan R. Katzoff, Michael W. Tyszko, J.P. Paraschos, Julia J. Martin, Laurence G. Bousquet, Philip S. Bousquet, Paul M. Predmore, Jean S. Everett
February 10, 2020
This alert is the third part of the Bousquet Holstein OZ Series that highlights topics in the Opportunity Zones final regulations published in the Federal Register on January 13, 2020. Under the Opportunity Zones program, a taxpayer who has held a qualifying investment in a Qualified Opportunity Fund for at least 10 years may elect
Read More »Maria C. Zumpano, MBA, CPA, Kevin M. Sayles, Susan R. Katzoff, Michael W. Tyszko, J.P. Paraschos, Julia J. Martin, Laurence G. Bousquet, Philip S. Bousquet, Paul M. Predmore
January 29, 2020
This alert is part of the OZ Series that highlights topics in the Opportunity Zones final regulations published in the Federal Register on January 13, 2020. One of the changes in the final regulations makes it easier for taxpayers with capital gains from the sale of business property to receive tax benefits under the Opportunity
Read More »Maria C. Zumpano, MBA, CPA, Kevin M. Sayles, Susan R. Katzoff, Michael W. Tyszko, J.P. Paraschos, Julia J. Martin, Laurence G. Bousquet, Philip S. Bousquet, Paul M. Predmore
January 22, 2020
In December 2017, the Tax Cuts and Jobs Act of 2017 added the Opportunity Zones program to the Internal Revenue Code. The Opportunity Zones program provides for the deferral and reduction of capital gains tax and possible permanent exclusion from federal income taxation of eligible capital gains. Taxpayers realize these benefits by investing in Qualified
Read More »Michael W. Tyszko, Julia J. Martin, Philip S. Bousquet
January 25, 2018
On January 16, Governor Cuomo introduced the New York FY 2019 Executive Budget ("Budget"). The Budget includes a proposal to revive an emergency measure, originally passed in the wake of the Great Recession, which would defer taxpayers' ability to claim certain tax credit amounts. Like the original version, which was passed in 2010, the Governor's
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