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Senate Proposal Would Reduce Historic Tax Credit to 10 Percent, Preserve New Markets Credit Allocations Through 2019 Round

USA - November 10 2017 On Nov. 9, 2017, the Joint Committee on Taxation released its “Description of the Chairman’s Mark of the Tax Cuts and Jobs Act” (the “JCT...

Lucas L. Witters, Christina Novotny, Alexander J. Szilvas.


Historic and New Markets Tax Credits At Risk Under Current House Tax Reform Proposal

USA - November 8 2017 On Nov. 2, the House Ways and Means Committee released draft statutory text (the "Bill") of the proposed Tax Cuts and Jobs Act (the "Act"), the...

Lucas L. Witters, Christina Novotny.


U.S. Treasury awards $3.5 billion in new markets tax credit allocations

USA - April 25 2013 On April 24, 2013, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (the CDFI Fund) announced the community...

George Skupski, Christina Novotny.


New markets tax credit program extended for two years by American Taxpayer Relief Act of 2012

USA - January 3 2013 On January 2, 2013, President Barack Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) into law which, in addition to addressing other...

George Skupski, Christina Novotny, Alexander J. Szilvas.


Third Circuit reverses significant tax credit decision in Historic Boardwalk Hall, LLC

USA - October 3 2012 On August 27, 2012, the U.S. Court of Appeals for the Third Circuit in Historic Boardwalk Hall, LLC v. Commissioner, No. 11-1832 (3d Cir. 2012), in reversing the Tax Court's previous taxpayer-favorable decision, held that the investor member in a historic tax credit partnership was not a bona fide partner for federal income tax purposes because it had "no meaningful stake" in the success or failure of the partnership....

George Skupski, Christina Novotny, Alexander J. Szilvas.