News & Analysis as of

Commercial Property Owners Tax Credits

Katten Muchin Rosenman LLP

Reflecting on the CIS: Three Month Review

Since 6 April 2024, most payments made by landlords and tenants are outside of the scope of the Construction Industry Scheme (CIS). New CIS regulations were introduced with the aim of streamlining the UK tax framework in...more

Pullman & Comley - For What It May Be Worth

Connecticut Bill Aims to Incentivize Commercial to Residential Building Conversions

National and local news has been replete with stories discussing the challenges and benefits of converting underutilized commercial properties such as office buildings into needed housing.  A recently introduced bill pending...more

White and Williams LLP

Revised Common Level Ratios Provide Opportunity for Pennsylvania Commercial Property Tax Savings

White and Williams LLP on

Every summer, the Pennsylvania State Tax Equalization Board (STEB) unveils the Common Level Ratios (CLR) for each county. These ratios play a pivotal role in calculating real estate assessments in a tax appeal process. The...more

Holland & Knight LLP

Inflation Reduction Act Offers a Variety of Green Building Tax Incentives

Holland & Knight LLP on

The IRS is currently in the process of implementing the Inflation Reduction Act of 2022 (IRA), which addresses energy, tax and health policy. According to the U.S. Environmental Protection Agency (EPA), "The Inflation...more

Morrison & Foerster LLP

NYC’s Local Law 97 Update: PACE Yourself

The first compliance period under New York City’s Local Law 97 (LL97) begins on January 1, 2024, and a January 2023 REBNY-commissioned study concluded that over 3,700 properties could be out of compliance and face over $200...more

Maynard Nexsen

South Carolina Abandoned Building Incentives at Risk of Going Away

Maynard Nexsen on

Mark Harmon, Nexsen Pruet Government Affairs Advisor, discusses upswings and downswings in the economy and how those downswings often result in the departure or closure of businesses, and subsequently, the abandonment of...more

Manatt, Phelps & Phillips, LLP

Proposed California Taxes to Address California’s Budget Shortfall in Light of COVID-19

California Governor Gavin Newsom’s proposed budget for FY 2020-21 projected a $7 billion surplus and record state spending, but his revised budget projects as much as a $54 billion deficit in light of COVID-19’s impact on the...more

Holland & Knight LLP

IRS Sheds New Light on Solar Tax Credits, Leaves Energy Storage in the Dark

Holland & Knight LLP on

The Internal Revenue Service (IRS) issued recent guidance regarding construction of commercial solar energy properties and other qualified energy properties for purposes of claiming the Investment Tax Credit (ITC), the key...more

Burr & Forman

South Carolina Property Tax for New and Expanding Manufacturers: The Fee-In-Lieu of Tax Versus the Special Source Revenue Credit

Burr & Forman on

South Carolina has some of the highest business property taxes in the Southeast. The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more

Burr & Forman

New Property Tax Exemption for All South Carolina Manufacturers

Burr & Forman on

The South Carolina Infrastructure and Economic Development Reform Act, 2017 Act 40, was recently enacted and is designed to enhance South Carolina’s economic competitiveness. The Act, commonly referred to as the gas tax bill,...more

Akerman LLP

June Expiration of Select New York City Residential and Commercial Incentive Programs

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Four major New York City based incentives programs for residential and commercial property owners and tenants are scheduled to sunset in June. Depending on individual circumstances, there may be an opportunity to vest...more

Ballard Spahr LLP

New Maryland State Income Tax Credit for Small Commercial Projects

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The owners of small commercial properties in Maryland historic districts should take note of the Maryland Sustainable Communities Small Commercial Tax Credit, a new state income tax credit that may be available to them as of...more

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