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
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
