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IRS to Make Direct Payments to Local Governments, School Districts, and Tax-Exempt Organizations for New Clean Motor Vehicles and Motorized Equipment

July 13, 2023
The monetization of energy tax credits under the Inflation Reduction Act (IRA) offers a potential source of revenue for local governments, school districts, 501(c)(3) organizations and certain other federally tax-exempt organizations that are buying new qualified commercial clean vehicles and motorized equipment. What is the credit for qualified commercial clean vehicles? Although local governments, school Read More »

LEGAL ALERT: State Accelerates Payment of Retainage by Local Governments and School Districts

January 19, 2021
On December 15, 2020, Governor Cuomo signed into law amendments to the New York State Finance Law and the New York State General Municipal Law relating to payment of retainage to contractors of public works projects. The amendments are widely supported by New York State's construction industry. The amendments clarify the definitions of substantial completion Read More »