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
Continue Reading Refundable State Tax Credits: Maybe Don’t Take the Money and Run
brownfield
New York Legislature Votes To Extend Brownfield Tax Credits For Additional 15 Months
By Steven C. Russo on
Posted in State & Local
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…
Continue Reading New York Legislature Votes To Extend Brownfield Tax Credits For Additional 15 Months
New York Governor Proposes to Extend Brownfield Tax Credit With Major Revisions
By Steven C. Russo on
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 that it has been a widely successful economic development and environmental cleanup program, and the critics, who assert that the tax credits, especially the “tangible property credit,” is an unnecessary giveaway to real estate developers.
Continue Reading New York Governor Proposes to Extend Brownfield Tax Credit With Major Revisions