Kevin M. Sayles
February 14, 2025
In an effort to promote the adoption of electric vehicles, reduce greenhouse gas emissions, and improve air quality, the U.S. government and New York State are offering tax incentives for the installation of EV charging stations. By providing financial incentives, they aim to encourage businesses and property owners to invest in charging infrastructure, which can
Read More »Jean S. Everett, Natalie P. Hempson-Elliott
August 01, 2023
The Gowanus Neighborhood Mixed Income Housing Development Program offers real property tax abatement for affordable housing projects located in the Special Gowanus Mixed Use District, an 82-block former industrial area along the Gowanus Canal in Brooklyn, New York. The Program addresses the uncertainty arising from the sunset of Section 421-a(16) of the New York Real
Read More »Christy Vouri-Misso
February 21, 2023
On February 14, 2023, the IRS released Notice 2023-17, Initial Guidance Establishing Program to Allocate Environmental Justice Solar and Wind Capacity Limitation Under Section 48(e). The Notice provides guidance on the Inflation Reduction Act of 2022 (IRA), which allocated solar and wind facilities an additional 10% of energy tax credits if located in low-income communities
Read More »Christy Vouri-Misso
November 05, 2021
Low-Income Housing Tax Credit The BBBA extends the 9% LIHTC allocations to pegged amounts through 2025. The provision is effective for calendar years after December 31, 2021. The provision provides a 50% increase in basis for LIHTC projects that designate at least 20% of their units for extremely low-income tenants. These projects may not use
Read More »Julia J. Martin, Christy Vouri-Misso, Natalie P. Hempson-Elliott
November 05, 2021
The Build Back Better Act package released by Congress last week includes a significant amount of tax benefits for clean energy production. Below is a summary of what we are watching: Extension of the PTC Extends the production tax credit (PTC), which allows energy producers to claim a credit based on electricity produced from renewable
Read More »Christy Vouri-Misso
June 08, 2020
Recently released IRS Notice 2020-39, provides relief for qualified opportunity funds ("QOFs"), their investors and qualified opportunity zone businesses from many upcoming deadlines due to the Coronavirus. Previously, the IRS extended the 180-day deadline for investors to invest capital gains into a QOF to July 15, 2020. https://bhlawpllc.com/publication/irs-extends-deadline-to-invest-in-a-qualified-opportunity-fund/ The Notice provides relief for the following: An investor
Read More »Maria C. Zumpano Withrow, 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 Withrow, 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 Withrow, 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 »Philip S. Bousquet
April 10, 2014
Philip S. Bousquet
April 10, 2014
May 15, 2013