Tag Archives: brownfield

Refundable State Tax Credits: Maybe Don’t Take the Money and Run

On April 25, 2019, the United States Court of Appeals for the Federal Circuit decided that refundable state tax brownfield credits are taxable income for federal purposes. The court held in Ginsburg v. United States, “The excess amount of the brownfield redevelopment tax credit received by the Ginsburgs in 2013 is taxable gross income because … Continue Reading

New York Legislature Votes To Extend Brownfield Tax Credits For Additional 15 Months

The New York legislature passed an extension of the popular New York Brownfield credits as this year’s legislative session came to a close last week.  Governor Andrew Cuomo and legislative leaders had been hoping to pass a longer extension in conjunction with significant changes to the eligibility rules for the lucrative tangible property Brownfield credit, … Continue Reading

New York Governor Proposes to Extend Brownfield Tax Credit With Major Revisions

From Steven Russo of GT New York City and Robert Rosenthal of GT Albany: The New York Governor proposed to extend the most significant tax credits associated with New York’s Brownfield Cleanup Program (BCP) as part of his Executive Budget.  The proposal tries to take a middle ground between the cheerleaders of the program, who contend … Continue Reading