State Tax Credit Transfers: What You Need to Know in 2017 and Beyond
For the past years, the enticing opportunities of tax credits have lured new startups, businesses and investments to expand and operate in different US states. However, despite its widespread patronage, these credits don’t attract large number of projects and ventures.
To further utilize the remaining value of the tax credits and enable a company or corporation to sell the remainder of the credit to companies involved in a large tax liability, states allow these enterprises to transfer and monetize their tax credits.
With the increasing opportunities, the transferability of tax credits has kept tax credit programs a part of a company's tax planning approach. Nonetheless, due to the different taxing jurisdictions, risks and pitfalls may potentially arise. To avoid such risks, companies and business must be well versed with the taxing jurisdiction of the states.
In this LIVE webcast, a seasoned panel of thought leaders, professionals and tax attorneys will provide and help the audience understand all the important aspects of State Tax Credit Transfers. Speakers will also present recent trends, developments, and updates with regard to this significant topic.
Key topics include:
- State Tax Credits – Framework
- Different Taxing Jurisdictions
- Requirements and Compliance
- Scope and Restrictions
- Trends and Developments
Aaron M. Scheuer, Attorney
Haynsworth Sinkler Boyd P.A.
Judith K. Crosby, Of Counsel
Kutak Rock LLP
- Brief history of state tax credits: most commonly seen types of credits (historic credits, LIHTC, mill credits), difference between a certificated and allocable credit, and discussion of the most important case law in this area (Virginia Historic Tax Credit Fund, Rte. 231, etc.)
- Structures that work for an allocated credit when the goal is to ensure it will, in fact, be respected by the IRS as an allocated credit
- Structures that work for an allocated credit when the goal is to have it treated as a sold credit for Federal income tax purposes
- Typical structures for certificated credits in states that specifically provide for such credits plus traps for the unwary (anti-abuse, etc)
Who Should Attend:
- Tax Attorneys
- Tax Specialists
- Tax Analysts
- Tax Accountants
- Tax Brokers
- In-house Counsel
- Other related/interested professionals and organizations
Aaron Scheuer is a tax attorney with Haynsworth Sinkler Boyd, P.A., in Columbia, South Carolina. As member of the firm’s tax team, Aaron advises businesses, nonprofits, and individuals in all matters related to federal income taxes, estate and gift taxes, and state and local taxes. Prior to joining the firm, Aaron worked as an attorney for the South Carolina Department of Revenue in the Department’s Policy and Litigation sections. Aaron received his LL.M. in Taxation from Georgetown University Law Center in 2012, J.D. from the Charleston School of Law in 2011, and B.A. from the University of Virginia in 2005.
Aaron Scheuer is a tax attorney with Haynsworth Sinkler Boyd, P.A., in Columbia, South Carolina. As member of the firm’s …
Judith K. Crosby is of counsel in Kutak Rock LLP’s Omaha office. Her practice focuses on tax law, with particular expertise in historic rehabilitations, affordable housing, partnership law, nonprofit law, and equity financing of partnerships and limited liability companies. She has represented investors, syndicators and developers and provided tax structuring advice in hundreds of tax credit transactions, including mixed-income projects, mixed-use projects, assisted living projects, single-room occupancy projects for homeless individuals, mixed-finance public housing and HOPE VI projects, projects which are financed by a combination of Low-Income Housing Tax Credits (federal and state) and Historic Rehabilitation Tax Credits (federal and state), and projects financed by the New Markets Tax Credit. Ms. Crosby also provides general partnership and corporate tax advice on a range of issues, including choice of entity, tax-exempt entity formation and maintenance, tax-deferred exchanges of real estate, and state tax.
Judith K. Crosby is of counsel in Kutak Rock LLP’s Omaha office. Her practice focuses on tax law, with particular …
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Method Of Presentation:
Experience in taxation
NY Category of CLE Credit:
Areas of Professional Practice
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About Haynsworth Sinkler Boyd P.A.
Haynsworth Sinkler Boyd, P.A. brings innovative, effective and practical solutions to the complex problems clients face in today’s interwoven and evolving arenas of law, commerce, technology, insurance, education, healthcare, government and public relations. With offices in Charleston, Columbia, Florence, Greenville, and Myrtle Beach the firm has 115 experienced attorneys encompassing a broad spectrum of business and litigation practice areas.
About Kutak Rock LLP
Kutak Rock is a national law firm of more than 500 lawyers with 18 offices coast-to-coast. The firm serves local, regional and national clients in commercial matters, including finance, mergers and acquisitions, securities, intellectual property, real estate, litigation, creditors’ rights and bankruptcy, with numerous areas of specialization. In addition, the firm serves municipal and governmental entities in public finance matters and is listed among the most active bond counsel and underwriter’s counsel firms in the nation. Kutak Rock dispels the myth of the “unattainable triangle of service”, delivering excellent service, high-quality legal counsel and a value-based fee structure, without compromise. Kutak Rock prioritizes talent and efficient business operations, and is focused on earning its client’s trust through outstanding experiences, one matter at a time.