Tax Alert / Energy & Natural Resources
|
|
- Lorena Gibson
- 7 years ago
- Views:
Transcription
1 ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA PHOENIX SACRAMENTO SHANGHAI SILICON VALLEY TALLAHASSEE TAMPA TYSONS CORNER WASHINGTON, D.C. WHITE PLAINS ZURICH Strategic Alliances with Independent Law Firms** MILAN ROME TOKYO IRS Sets September 16, 2009 Application Deadline for Investment Tax Credit Awards in $2.3 Billion Program to Encourage Renewable Energy Equipment Makers to Expand Domestic Manufacturing Base The most recent stimulus bill, enacted in February as the American Recovery and Reinvestment Act of 2009, established a tax credit amounting to 30 percent of the cost of certain tangible property purchased for the manufacture of advanced energy property. Broadly speaking, advanced energy property is equipment used in clean or renewable energy production. This credit (herein called the Manufacturing Credit 1 ) is provided in new Section 48C of the Internal Revenue Code. Unlike most other tax credits, the amount allowable to taxpayers in the aggregate under Section 48C is capped at $2.3 billion. The Treasury was therefore directed to set up a program, in consultation with the Department of Energy (DOE), to allocate the $2.3 billion in available tax credits to selected taxpayers based on a competitive application process. The details of this program were recently announced in Notice (the Notice ), 2 released by the Treasury Department and the Internal Revenue Service (IRS) on August 13, Significantly, the Notice announced an initial allocation round for the Manufacturing Credit with a multi-step application process and fastapproaching deadlines. The eligibility requirements for the Manufacturing Credit, as well as the application procedures prescribed in the Notice, are summarized below. Of particular importance is the September 16, 2009, deadline established in the Notice for the submission of an initial application to the DOE. Taxpayers wishing to qualify for the Manufacturing Credit must act quickly in order to participate in the initial allocation round. Eligibility Requirements In order to qualify for an allocation under Section 48C, a taxpayer must invest in eligible property that is part of a project that re-equips, expands or establishes a manufacturing facility designed to produce one or more of the following types of advanced energy property (such a project is referred to as a Qualifying Project in this Alert): Property designed for use in the production of energy from the sun, wind, geothermal deposits, or other renewable resources; Fuel cells, microturbines, or an energy storage system for use with electric or hybrid-electric motor vehicles; Electric grids to support the transmission of intermittent sources of renewable energy, including property for the storage of such energy; Property designed to capture and sequester carbon dioxide and sequester carbon dioxide emissions; GREENBERG TRAURIG, LLP ATTORNEYS AT LAW - 1
2 Property designed to refine or blend renewable fuels (but not fossil fuels) or to produce energy conservation technologies (including energy-conserving lighting technologies and smart grid technologies); New qualified plug-in electric drive motor vehicles, qualified plug-in electric vehicles, or components that are designed specifically for use with such vehicles, including electric motors, generators, and power control units; or Other advanced energy property designed to reduce greenhouse gas emissions as may be determined by the IRS (this determination may be made pursuant to published guidance or in the letter notifying the taxpayer that the IRS has accepted the taxpayer s application for Section 48C certification with respect to the property). A taxpayer that receives an allocation of the $2.3 billion in available Manufacturing Credits may claim the amount allocated as a credit for the taxable year in which the eligible property is placed in service. Significantly, the Notice provides that the Manufacturing Credit may be available to taxpayers that produce goods that require additional manufacture before becoming advanced energy property. Only property (1) that is necessary for the production of advanced energy property, (2) that is tangible personal property, or other tangible property (not including a building or its structural components) that is used as an integral part of a Qualifying Project, and (3) with respect to which depreciation (or amortization) is allowable, is eligible property for which the Manufacturing Credit may be claimed. Applying and Receiving Certification for the Manufacturing Credit The Notice sets forth the procedure under which the DOE and the IRS will review and make determinations regarding the eligibility and merit of an applicant for the Manufacturing Credit, as well as the method for allocating the $2.3 billion in credits available under Section 48C. The application period for the initial allocation round began on August 14, 2009, and ends on December 16, The applicant generally must apply both to the DOE for recommendation of the project involved as a Qualifying Project, and to the IRS for an allocation of the $2.3 billion cap. A preliminary application for DOE s recommendation must be submitted to the DOE by September 16, 2009, and a final application for DOE s recommendation must be submitted to the DOE by October 16, The form for the preliminary application, and the content and format for the final application, are included in Sections I and G, respectively, of Appendix B to the Notice. Only general project information necessary for an initial eligibility screening is required in the preliminary application; whereas, the final application must contain detailed information that will be used by DOE to rank the applicants projects in accordance with the various selection criteria specified in the Notice. After reviewing the initial and final applications, the DOE will provide its recommendations to the IRS by December 16, 2009, which will include a ranking of projects in descending order. The initial round applicant must also submit an application for certification under Section 48C to the IRS by December 16, 2009; and the IRS will accept or reject the application and notify the taxpayer of its decision by January 15, All timely filed applications for certification will be deemed to be received on December 16, 2009 as a result, the $2.3 billion cap is not allocated on a rolling basis, and no priority is given to early filers. The IRS will use the ranking provided by the DOE to allocate the $2.3 billion, with the higher-ranking Qualifying Projects being allocated the full amount of the Manufacturing Credit requested before any credit is allocated to GREENBERG TRAURIG, LLP ATTORNEYS AT LAW - 2
3 a lower-ranked Qualifying Project. If the entire $2.3 billion is not allocated during the initial round, a similar allocation round will be conducted in If a Manufacturing Credit is allocated to a taxpayer s Qualifying Project, the taxpayer will be required to execute an agreement in the form set forth in Appendix A to the Notice. Initial round applicants must return this agreement to the IRS by March 15, 2010, and the IRS will execute and return the agreement to the applicant by April 16, A successor in interest to the taxpayer must execute a new agreement with the IRS or risk forfeiture or recapture of the Manufacturing Credit. A successful applicant will be required to submit to the IRS, within one year of the date of acceptance of its application for certification under Section 48C, evidence that the requirements of the certification have been met. The IRS will then decide whether to certify the Qualifying Project and will notify the taxpayer of its decision. If the IRS certifies the Qualifying Project, the taxpayer is required to place the Qualifying Project in service within three years of obtaining notice of this certification. Eligibility and Selection Criteria Appendix B to the Notice sets forth the information that must be included by an applicant in its submissions to the DOE, and sets forth certain eligibility criteria, evaluation criteria, and program policy factors that the DOE will consider in reviewing, recommending, and ranking Qualifying Projects for an allocation under Section 48C. It is important that applicants consider and address these criteria/factors in their submissions. The eligibility criteria, which must be satisfied in order for a project to be eligible for an allocation under Section 48C, require that the project under consideration qualify as a Qualifying Project and have a reasonable expectation of commercial viability. The evaluation criteria represent specific goals that the DOE targets for Qualifying Projects under the Section 48C program. Pursuant to these criteria, which the DOE will weigh equally, Qualifying Projects will receive a higher rank to the extent they are determined to (1) provide the greatest domestic job creation; (2) provide the greatest net impact in avoiding or reducing air pollutants or anthropogenic emissions of greenhouse gases; (3) have the greatest potential for technological innovation and commercial deployment, as indicated by (a) the production of new or significantly improved technologies, (b) improvements in levelized costs and performance, and (c) manufacturing significance and value; and (4) have the shortest project time from certification to completion. The policy program factors represent overarching policy goals which the DOE hopes to advance under the Section 48C program. These factors include achieving geographic diversity, technology diversity, project size diversity, and regional economic development. Miscellaneous Considerations The taxpayer must inform the IRS if a significant change in the plans for the Qualifying Project set forth in the applications occurs; this will result in disqualification or forfeiture of the Manufacturing Credit. A significant change is defined as any change that a reasonable person would conclude might have influenced the DOE or the GREENBERG TRAURIG, LLP ATTORNEYS AT LAW - 3
4 IRS in recommending, ranking, or approving the Qualifying Project for the Manufacturing Credit in the plans set forth in the applications. An acceptance, allocation, or certification by the IRS is not a determination that a Qualifying Project is eligible for the Manufacturing Credit, and the IRS may subsequently determine that the Qualifying Project does not so qualify. A taxpayer does not have a right to a conference with, or to appeal any decision made pursuant to the Notice by, the DOE or the IRS. Upon making a certification of a Qualifying Project, the IRS will publicly disclose the identity of the applicant and the amount of the Manufacturing Credit certified with respect to such applicant. Other information, such as trade secrets and financial information, will generally remain confidential. All submissions to the IRS and the DOE pursuant to the Notice must be made by the applicant under penalties of perjury. This GT Alert was prepared by Justin Mead, Jessica Graf and Michael Einig. For more information on how to qualify or apply for the Manufacturing Credit, please contact: Justin Mead (meadj@gtlaw.com) Jessica Graf (grafj@gtlaw.com) Or your Greenberg Traurig attorney 1 The Manufacturing Credit entitles a taxpayer to a dollar-for-dollar reduction in the taxpayer s U.S. federal income tax liability. Tax credits are thus more beneficial than tax deductions, which generally entitle a taxpayer to a benefit of $0.35 for each $1 of deduction IRB. GREENBERG TRAURIG, LLP ATTORNEYS AT LAW - 4
5 Albany Amsterdam Atlanta Houston Las Vegas Los Angeles Philadelphia Phoenix Sacramento Austin Boston Chicago Dallas Delaware Denver Fort Lauderdale London* +44 (0) Miami New Jersey New York Orange County Orlando Palm Beach County North Palm Beach County South Shanghai Silicon Valley Tallahassee Tampa Tysons Corner Washington, D.C White Plains Zurich To ensure compliance with requirements imposed by the IRS under Circular 230, we inform you that any US federal tax advice contained in this communication (including any attachments), unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any matters addressed herein. This Greenberg Traurig Alert is issued for informational purposes only and is not intended to be construed or used as general legal advice. Please contact the author(s) or your Greenberg Traurig contact if you have questions regarding the currency of this information. The hiring of a lawyer is an important decision. Before you decide, ask for written information about the lawyer s legal qualifications and experience. Greenberg Traurig is a service mark and trade name of Greenberg Traurig, LLP and Greenberg Traurig, P.A Greenberg Traurig, LLP. All rights reserved. *Operates as Greenberg Traurig Maher LLP. **Greenberg Traurig is not responsible for any legal or other services rendered by attorneys employed by the Strategic Alliance firms. GREENBERG TRAURIG, LLP ATTORNEYS AT LAW - 1
Global Benefits & Compensation
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA
More informationWealth Management. Distributions by Private Foundations and Donor Advised Funds: Procedures for Determining Recipient s Public Charity Status
Wealth Management December 2007 ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA
More informationRecently Released IRS Guidance Offers Opportunity to Accelerate Losses Inherent in Accounts Receivable
ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA PHOENIX SACRAMENTO SILICON
More informationI. TAX EXEMPT BOND PROVISIONS
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA PHOENIX
More informationALERT. FDA Guidance for Industry and FDA Staff: Mobile Medical Applications. Health & FDA Business November 2013
ALERT Health & FDA Business November 2013 FDA Guidance for Industry and FDA Staff: Mobile Medical Applications On September 25, 2013, the Food and Drug Administration (the FDA ) released final guidance
More informationNew PCAOB Rules Limit the Tax Services Accounting Firms May Provide to Public Company Audit Clients
ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA PHOENIX SACRAMENTO SILICON
More informationTrusts & Estates. Many Estate Planning Opportunities May End in 2012 The Time to Act is Now
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MEXICO CITY+ MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY
More informationALERT. New Proposed 752 Regulations to Alter Partnership- Level Debt Allocations. Tax March 2014
ALERT Tax March 2014 New Proposed 752 Regulations to Alter Partnership- Level Debt Allocations On January 29, 2014, the Internal Revenue Service and Treasury Department issued a notice of proposed rule-making,
More informationPossible Refund Claims for California LLC Fees Based on Unconstitutionality
ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA PHOENIX SACRAMENTO SILICON
More informationFinancial Institutions
Financial Institutions April 2008 ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO
More informationTelecommunications / Real Estate
Telecommunications / Real Estate December 2007 ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY
More informationWealth Management. Supreme Court and IRS Take on Deductibility of Trust Investment Management Fees
Wealth Management September 2007 ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO
More informationRenewable Energy and Energy Efficiency Incentives. Prepared by: David W. Swatosh, CPA
Renewable Energy and Energy Efficiency Incentives Prepared by: David W. Swatosh, CPA The Rehmann Group Our Mission Deliver valued, comprehensive solutions through a "OneRehmann" experience. Our Vision
More informationAdditional Requirements for Lenders and Mortgage Servicers
ALERT Financial Services Litigation July 2013 Florida s New Fast Track Foreclosure Law Creates Additional Requirements for Lenders and Mortgage Servicers According to the Florida House of Representatives,
More informationALERT: Tax. Banks and Other Lienholders Need to Defend Against IRS Levy Even if They Have a Superior Lien or a Right of Setoff
ALERT: Tax September 2006 the Internal Revenue Service reaffirmed that there is no defense to a federal tax levy served on a party with an interest in the property superior to the federal tax lien, or
More informationFinancial Institutions
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA PHOENIX
More informationThe Pension Protection Act of 2006 New EOLI Legislation Potentially Taxes Typical Insurance Arrangements
ALERT: Tax December 2006 EOLI Legislation Potentially Taxes Typical Our previous Alert, The Pension Protection Act of 2006 Changes Affecting Life Insurance Products, reviewed legislation under the Pension
More informationCalifornia Business Tax Incentive Legislation
ALERT Tax July 2013 California Business Tax Incentive Legislation California has completely overhauled its tax-related economic incentive laws by repealing nearly all existing incentives, and replacing
More informationCorporate & Securities. Creditor Remedies against Members of LLCs
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA
More informationSEC Adopts Regulation Crowdfunding to Facilitate Early Capital Raises
Corporate & Securities/Capital Markets GT Alert November 2015 SEC Adopts Regulation Crowdfunding to Facilitate Early Capital Raises On Oct. 30, 2015, the Securities and Exchange Commission (SEC) adopted
More informationTaxes and the New Social Security Tax in 2013
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MEXICO CITY+ MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY
More informationFinancial Institutions
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MEXICO CITY+ MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY
More informationWaivers of Certain Fraud and Abuse Laws Permitted in CJR Model
Health & FDA Business Alert Waivers of Certain Fraud and Abuse Laws Permitted in CJR Model November 2015 On Nov. 16, 2015, the U.S. Centers for Medicare & Medicaid Services (CMS) issued a Final Rule implementing
More informationAn International Law Firm of More than 1750 Attorneys
FUTURE SCENARIOS FOR LATIN AMERICAN COMMUNICATIONS (II) SPONSORED BY CITI Judith O Neill, Chairman Telecom Dept. NY. Office Greenberg Traurig, LLP Tel: +212 801 9387 Email: oneillj@gtlaw.com Presented
More informationALERT: Tax. Background
ALERT: Tax December 2006 Death of Private Annuities? The IRS and Treasury Department Issue Proposed Regulations on the Taxation of Certain Private Annuity Transactions* The new PA regulations, however,
More informationHealth & FDA Business
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA
More informationAlert. Litigation May 2014
Alert Litigation May 2014 Statute of Limitations Update in Florida Foreclosure Actions: Fifth District Court of Appeals Holds that Each Default Creates a New Case of Action I. The Opinion On April 25,
More informationPatent Reform: What MedTech Companies Need to Know
GREENBERG TRAURIG, LLP ATTORNEYS AT LAW WWW.GTLAW.COM Patent Reform: What MedTech Companies Need to Know David J. Dykeman, Esq. Patent Attorney & Shareholder Greenberg Traurig, LLP Boston, MA (617) 310-6009
More informationERISA Alert. Plan Sponsors Impacted by Hidden 401(k) Fee Litigation
ERISA Alert October 2007 ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA
More informationTHE NEW TEXAS FRANCHISE TAX
ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA PHOENIX SACRAMENTO SILICON
More informationApplication of Section 409A to Private Company Stock Options and Other Equity Awards
January 2006 ALBANY AMSTERDAM Stock Options and Other Equity Awards ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE
More informationFederal Tax Credits and Incentives for Renewable Energy Investments*
Federal Tax Credits and Incentives for Renewable Energy Investments* By Jonathan B. Wilson** The Energy Policy Act of 2005 1 created a series of tax credits and other policy changes aimed at encouraging
More informationInsurance Coverage for Losses due to Hurricanes Katrina and Rita: Practical Advice for Policyholders
October 2005 ALBANY AMSTERDAM Insurance Coverage for Losses due to Hurricanes Katrina and Rita: Practical Advice for Policyholders ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE
More informationLIFE SETTLEMENTS: SUMMARY OF RECENT DEVELOPMENTS
WEALTH MANAGEMENT: SPECIAL REPORT Minimize taxes Provide for family Form family offices Manage trusts Administer estates LIFE SETTLEMENTS: SUMMARY OF RECENT DEVELOPMENTS In This Report Page Develop business
More informationClient Alert. New Treasury Regulations Make it Easier to Issue Tack-On Bonds or Loans. But New FATCA Regulations Add Complexity.
Number 1417 October 6, 2015 Client Alert Latham & Watkins Corporate & Tax Departments New Treasury Regulations Make it Easier to Issue Tack-On Bonds or Loans But New FATCA Regulations Add Complexity The
More informationOffice of Federal Contract Compliance Programs Final Recordkeeping Rule for Internet-Based Job Applicants Takes Effect
February 2006 ALBANY AMSTERDAM ATLANTA BOCA RATON BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PHILADELPHIA PHOENIX
More informationClient Alert. New Treasury Regulations Put Issuers at Increased Risk for Cancellation of Indebtedness Income in Debt-for-Debt Exchanges.
Number 1399 September 20, 2012 Client Alert Latham & Watkins Tax Department New Treasury Regulations Put Issuers at Increased Risk for Cancellation of Indebtedness Income in Debt-for-Debt Exchanges In
More informationGovernmental Affairs. 2008 Election Overview: A Look Ahead to the 111 th Congress
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA PHOENIX
More informationExpatriation - A Comparison of Tax Issues in the US & UK in an Increasingly Mobile World
Expatriation - A Comparison of Tax Issues in the US & UK in an Increasingly Mobile World Henry Christensen III Jay E. Rivlin www.mwe.com Boston Brussels Chicago Düsseldorf Frankfurt Houston London Los
More informationExpansion of the Term Asset-Backed Securities Loan Facility (TALF) and Update on the First TALF Funding
Expansion of the Term Asset-Backed Securities Loan Facility (TALF) and Update on the First TALF Funding March 26, 2009 Boston Brussels Chicago Düsseldorf Houston London Los Angeles Miami Milan Munich New
More informationInvestment Company Act of 1940 Private Funds
Investment Company Act of 1940 Private Funds David A. Sussman Steven J. Gray March 2016 2016 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris LLP. Duane
More informationTAMPA INTERNATIONAL AIRPORT
Albany Southwest Airlines 73W 332 0900 1150 1,130 143...7 Albany Southwest Airlines 73W 1811 0900 1150 1,130 143 12345.. Albany Southwest Airlines 73W 6066 1110 1400 1,130 143...6. Atlanta Delta Air Lines
More informationTAX INCENTIVES FOR FINANCING RENEWABLE ENERGY PROJECTS
June 14, 2011 TAX INCENTIVES FOR FINANCING RENEWABLE ENERGY PROJECTS A. APPLICABLE TAX INCENTIVES. In the United States, most renewable energy projects are financed in part by relying on significant tax
More informationTreasury Grants for Energy Property in Lieu of Tax Credits
Treasury Grants for Energy Property in Lieu of Tax Credits Jeffrey Davis Partner +1 202 263 3390 jeffrey.davis@mayerbrown.com August 11, 2009 Mayer Brown is a global legal services organization comprising
More informationH.R. 2776 Renewable Energy and Energy Conservation Tax Act of 2007
H.R. 2776 Renewable Energy and Energy Conservation Tax Act of 2007 I. PRODUCTION INCENTIVES June 19, 2007 Long-term extension and modification of renewable energy production tax credit. The bill extends
More informationZurich Staff Legal. Experienced. Collaborative. Focused on Results.
Zurich Staff Legal Experienced. Collaborative. Focused on Results. Staff Legal How We Deliver We are located where you need us, with more than 250 attorneys in our national network of 48 offices that cover
More information2015 California Employment Law Legislative Update
Labor & Employment Alert November 2015 2015 California Employment Law Legislative Update At Greenberg Traurig, we live our motto built for change and apply it for the benefit of the businesses we serve.
More informationGroundbreaking Legislation on Property Tax and Sales Tax Exemptions for Illinois Hospitals
Groundbreaking Legislation on Property Tax and Sales Tax Exemptions for Illinois Hospitals June 14, 2012 Boston Brussels Chicago Düsseldorf Frankfurt Houston London Los Angeles Miami Milan Munich New York
More informationTreasury Guidance Regarding Renewable Energy Grants in Lieu of Tax Credits Released
July 2009 Treasury Guidance Regarding Renewable Energy Grants in Lieu of Tax Credits Released BY MICHAEL D. HAUN, SEAN C. HONEYWILL, AND KEVIN YOUNG On July 9, 2009, the Treasury Department released long-awaited
More informationMerchant card and third-party payment network transaction reporting requirements
Merchant card and third-party payment network transaction reporting requirements Contents 1 Introduction 2 Overview 6 Amount reported 7 Additional application to retailers, restaurants and hospitality
More informationFATCA & Beyond - Global Information Sharing and Private Equity Funds
FATCA & Beyond - Global Information Sharing and Private Equity Funds Jenny Wheater August 2014 2014 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris LLP.
More informationIRS Offshore Voluntary Disclosure Initiative Round Two
View this email as a webpage. February 2011 www.ssd.com IRS Offshore Voluntary Disclosure Initiative Round Two On February 8, 2011 the US Internal Revenue Service (the IRS) announced its second, much anticipated,
More informationArticles. Thomas Popplewell and Will Becker April 17, 2013. ***Update effective May 13, 2013***
IRS Provides Guidelines as to Beginning of Construction for Purposes of the Renewable Electricity Production Tax Credit and Energy Investment Tax Credit Thomas Popplewell and Will Becker April 17, 2013
More informationDOE Announces Fundamental Shift in LNG Export Authorization Policy
5 June 2014 Practice Groups: Liquefied Natural Gas Oil & Gas Energy, Infrastructure and Resources Energy DOE Announces Fundamental Shift in LNG Export Authorization Policy By David L. Wochner, Sandra E.
More informationUS Treasury Department Issues Guidance on Energy Grants In Lieu of Tax Credits
Energy Update July 10, 2009 US Treasury Department Issues Guidance on Energy Grants In Lieu of Tax Credits On July 9, 2009, the US Treasury Department (Treasury) issued long-awaited guidance on grants
More informationALI-ABA Course of Study Estate Planning for the Family Business Owner
597 ALI-ABA Course of Study Estate Planning for the Family Business Owner Cosponsored by the ABA Section of Real Property, Trust and Estate Law and the ABA Section of Taxation July 7-9, 2010 Chicago, Illinois
More informationNational Enhanced Oil Recovery Initiative
National Enhanced Oil Recovery Initiative U.S. POLICY RECOMMENDED MODIFICATIONS TO THE 45Q TAX CREDIT FOR CARBON DIOXIDE SEQUESTRATION National Enhanced Oil Recovery Initiative Great Plains Institute February
More informationNEW JERSEY ANGEL INVESTOR TAX CREDIT FREQUENTLY ASKED QUESTIONS (FAQ)
NEW JERSEY ANGEL INVESTOR TAX CREDIT FREQUENTLY ASKED QUESTIONS (FAQ) 7/9/2013 Summary of Changes from original version posted 6/11/2013: 1) 6/18/2013 Added new Question 47, now 51. 2) 6/27/2013 a) Question
More informationDoing Business in China: Mitigating FCPA Compliance Risk After the Rio Tinto Verdict
ALBANY AMSTERDAM ATLANTA AUSTIN BOSTON CHICAGO DALLAS DELAWARE DENVER FORT LAUDERDALE HOUSTON LAS VEGAS LONDON* LOS ANGELES MIAMI NEW JERSEY NEW YORK ORANGE COUNTY ORLANDO PALM BEACH COUNTY PHILADELPHIA
More informationFINANCIAL INSTITUTIONS REGULATORY UPDATE
OCTOBER 19, 2009 FINANCIAL INSTITUTIONS REGULATORY UPDATE The Financial Institutions Regulatory Practice Group of Sidley Austin LLP The Financial Institutions Regulatory Practice group offers counseling,
More informationCMS Seeks Improved Quality of Care, Patient Engagement Through Stage 2 Meaningful Use Criteria
September 12, 2012 CMS Seeks Improved Quality of Care, Patient Engagement Through Stage 2 Meaningful Use Criteria The Centers for Medicare & Medicaid Services (CMS) published on September 4, 2012, a final
More informationThe Affordable Care Act s Employer Mandate: Guidance for Educational Organizations
March 4, 2014 Practice Group(s): Employee Benefits Benefits, ESOPs, and Executive Compensation The Affordable Care Act s Employer Mandate: Guidance for Educational By Lynne Shore Wakefield and Emily D.
More informationLaura Ellen Jones, Hunton & Williams LLP
Tax Credits, Treasury Grants and Other Tax Incentives for Landfill Gas and Waste-to-Energy Projects 15 th Annual LMOP Conference and Project Expo January 18, 2012 Laura Ellen Jones, Hunton & Williams LLP
More informationThis Notice solicits applications for allocations of the remaining available amount
Part III - Administrative, Procedural, and Miscellaneous New Clean Renewable Energy Bonds Notice 2015-12 SECTION 1. PURPOSE This Notice solicits applications for allocations of the remaining available
More informationSOUTHEAST ENERGY EFFICIENCY ALLIANCE. Clean Energy Greenville, SC May 29, 2009
SOUTHEAST ENERGY EFFICIENCY ALLIANCE Clean Energy Greenville, SC May 29, 2009 Who is SEEA? The Southeast Energy Efficiency Alliance builds regional partnerships to promote and achieve energy efficiency
More informationOSHA Inspection Checklist
OSHA Inspection Checklist Prepared by: Edwin G. Foulke, Jr. Direct: (404) 240-4273 efoulke@laborlawyers.com 1075 Peachtree Street NE, Suite 3500 Atlanta, GA 30309 Atlanta Baltimore Boston Charlotte Chicago
More informationSubject to Change 1 As of 8/13/14
Atlanta Hawks Wed. 29-Oct-14 @ Toronto 7:30 PM Mon. 19-Jan-15 Detroit 2:30 PM Sat. 1-Nov-14 Indiana 7:30 PM Wed. 21-Jan-15 Indiana 7:30 PM Wed. 5-Nov-14 @ San Antonio 8:30 PM Fri. 23-Jan-15 Oklahoma City
More informationH.R. 5351 Renewable Energy and Energy Conservation Tax Act of 2008
H.R. 5351 Renewable Energy and Energy Conservation Tax Act of 2008 February 25, 2008 I. INCREASE PRODUCTION OF RENEWABLE ELECTRICITY Long-term extension and modification of renewable energy production
More informationLatham & Watkins Corporate Department
Number 833 March 16, 2009 Client Alert Latham & Watkins Corporate Department Contracting Models for Systems Integration Projects to Meet the Challenges of ehealth A careful selection of the contracting
More informationLatham & Watkins Litigation Antitrust & Competition
Number 1040 9 June 2010 Client Alert Latham & Watkins Litigation Antitrust & Competition New Antitrust Rules for the Motor Vehicle Sector Challenges Ahead for Car Manufacturers, Dealers, Spare Parts Suppliers
More informationUS Tax Issues for Foreign Partners: US Withholding Taxes & Tax Treaties
US Tax Issues for Foreign Partners: US Withholding Taxes & Tax Treaties Hope P. Krebs January 2015 2015 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris
More informationAuthors: The American Recovery and Reinvestment Act of 2009: A Guide for State and Local Governments
Latham & Watkins LLP As of February 2009 Authors: Stuart S. Kurlander +1.202.637.2169 Edward W. Correia +1.202.637.2220 Gabriel K. Bell* +1.202.637.2227 www.lw.com Copyright 2009 Latham & Watkins. All
More informationClient Alert. GEORGIA AND FEDERAL ENERGY TAX CREDITS AND GRANTS June 2009
Contact Attorneys Regarding This Matter: Mark A. Gould, Jr. 404.873.8782 - direct 404.873.8783 - fax mark.gould@agg.com John L. Gornall, Jr. 404.873.8650 - direct 404.873.8651 - fax john.gornall@agg.com
More informationLatham & Watkins Corporate Department
Number 990 February 23, 2010 Client Alert Latham & Watkins Corporate Department New Regulations Issued to Implement Incentives for Meaningful Use of Electronic Health Records The CMS and ONC regulations
More informationANALYSIS OF THE ADMINISTRATION S PROPOSED TAX INCENTIVES FOR ENERGY EFFICIENCY AND THE ENVIRONMENT
June 28, 1999 ANALYSIS OF THE ADMINISTRATION S PROPOSED TAX INCENTIVES FOR ENERGY EFFICIENCY AND THE ENVIRONMENT INTRODUCTION A few months ago in the FY 2000 budget the President proposed a $3.6 billion
More informationGT ALERT GREENBERG. ESOPs: THE PRIVATE BUSINESS OWNER S SECRET PLANNING DEVICE. March 2003 gtlaw.com
gtlaw.com info@gtlaw.com GREENBERG ATTORNEYS AT LAW TRAURIG LLP GT ALERT ESOPs: THE PRIVATE BUSINESS OWNER S SECRET PLANNING DEVICE By Jeffrey S. Kahn and Brandon G. Feingold AMSTERDAM ATLANTA BOCA RATON
More informationHow To Make Money From A Loan
March 2009 How to Buy Loans Originated by Failed Financial Institutions from the FDIC BY CHRIS DANIEL, DANIEL PERLMAN, TODD BEAUCHAMP AND AZBA HABIB Introduction The Federal Deposit Insurance Corporation
More informationNorth Carolina Department of Commerce Commerce Finance Center
North Carolina Department of Commerce Commerce Finance Center Beverly Eaves Perdue, Governor J. Keith Crisco, Secretary Stewart J. Dickinson, Director July 8, 2011 In 2008, the United States Congress authorized
More informationTransportation & Jobs for America Project
Webinar Transportation & Jobs for America Project April 10, 2013 Join the conversation on Twitter using hashtag #Transit4Jobs Los Angeles Alliance for a New Economy (LAANE) @LAANE Program for Environmental
More informationA Summary of the Kyoto Protocol and the Marrakesh Accords By James G. Derouin Fredric D. Bellamy David R. Nelson Mark E. Freeze 1
A Summary of the Kyoto Protocol and the Marrakesh Accords By James G. Derouin Fredric D. Bellamy David R. Nelson Mark E. Freeze 1 The Kyoto Protocol is an outgrowth of the United Nations Framework Convention
More informationCommunity Investments Vol 15, Issue 2 Making the New Markets Tax Credit Count
Community Investments Vol 15, Issue 2 Making the New Markets Tax Credit Count Author(s): Robert Rapoza, President, Rapoza Associates August 2003 The New Markets Tax Credit (NMTC) program was enacted in
More informationApplies only to discounted stock rights exercised during 2006.
Part III Administrative, Procedural, and Miscellaneous Compliance Resolution Program for Employees Other than Corporate Insiders for Additional 2006 Taxes Arising Under 409A due to the Exercise of Stock
More informationImplementing a Program Management Plan
GSA SmartPay 2010 Conference Implementing a Program Management Plan Heelay Yaftali Vice President 12 th Annual GSA SmartPay Conference Atlanta, GA August 10-12, 2010 House Rules To ensure the best possible
More informationLevelized Cost of New Electricity Generating Technologies
Levelized Cost of New Electricity Generating Technologies The Energy Information Administration (EIA) produces forecasts of energy supply and demand for the next 20 years using the National Energy Modeling
More informationWhat s News in Tax Analysis That Matters from Washington National Tax
What s News in Tax Analysis That Matters from Washington National Tax Foreign Corporations: Use of Accounting Methods in E&P Planning and Compliance This article addresses the importance of using proper
More informationIRS Issues Audit Directive on Worthless Debt Deductions for Banks and Bank Affiliates
October 29, 2014 IRS Issues Audit Directive on Worthless Debt Deductions for Banks and Bank Affiliates LBI Directs Its Auditors Not to Challenge Certain Worthless Debt Deductions SUMMARY The Large Business
More informationIRS Issues Proposed Regulations on Tax Return Preparer Penalty Rules Under Sections 6694 and 6695
July 2008 IRS Issues Proposed Regulations on Tax Return Preparer Penalty Rules Under Sections 6694 and 6695 BY MARK S. LANGE AND CRISTIANE R. WOLFE Introduction On May 16, 2008, the Internal Revenue Service
More informationBenefits and Compensation Alert
April 2, 2010 Authors: Mary Turk-Meena mary.turk-meena@klgates.com +1.704.331.7590 Lynne S. Wakefield lynne.wakefield@klgates.com +1.704.331.7578 Emily D. Zimmer emily.zimmer@klgates.com +1.704.331.7405
More informationInstructions for Form 3115 (Rev. March 2012) (Use with the December 2009 revision of Form 3115) Application for Change in Accounting Method
Instructions for Form 3115 (Rev. March 2012) (Use with the December 2009 revision of Form 3115) Application for Change in Accounting Method Department of the Treasury Internal Revenue Service Section references
More informationClient Alert. Proposed Revisions to Regulations for Eagle Take Permits Hold Promise of Greater Take Authorization for Renewable Energy Developers
Number 1361 July 9, 2012 Client Alert Latham & Watkins Environmental, Land & Resources Department Proposed Revisions to Regulations for Eagle Take Permits Hold Promise of Greater Take Authorization for
More informationTax Free Disability Benefits
Tax Free Disability Benefits Disclaimer: The information contained in these materials, written or oral, is provided for information purposes only. Neither Proskauer Rose, L.L.P., nor Assurant Employee
More informationAmerican Recovery and Reinvestment Act of 2009 Summary of Tax Provisions
American Recovery and Reinvestment Act of 2009 Summary of Tax Provisions Individual Income Tax Provisions 1. Extension of enhanced expense method depreciation amount. The I.R.C. 179 amount which was increased
More informationHistoric rehabilitation credit Authority: Ga. Code Ann. 48-7-29.8
Georgia Tax Credits (Updated July 17, 2013) Donated conservation property Authority: Ga. Code Ann. 48-7-29.12 Nonrefundable for each qualified donation of real property for conservation purposes Taxpayers
More informationLodging, Rental Car and Meal Taxes on Travelers in the Top 50 U.S. Cities
Lodging, Rental Car and Meal Taxes on Travelers in the Top 50 U.S. Cities July 2008 Prepared by: American Economics Group, Inc. TABLE OF CONTENTS EXECUTIVE SUMMARY...3 TABLES: COMBINED TAXES ON LODGING,
More informationAkerman Practice Update
Akerman Practice Update TAXATION December 2010 2010 Tax Relief Act Will Preserve Lower Income Tax Rates and Provide Other Tax Incentives L. Frank Cordero frank.cordero@ Richard T. Hurt richard.hurt@ William
More informationMultistate Impact of the American Taxpayer Relief Act of 2012 March 5, 2013
Multistate Tax EXTERNAL ALERT Multistate Impact of the American Taxpayer Relief Act of 2012 March 5, 2013 Overview On January 2, 2013, President Barack Obama signed into law the American Taxpayer Relief
More informationFMLA AMENDED TO PROVIDE LEAVE TO
EMPLOYEE BENEFITS ALERT February 2008 Issue 126 FMLA AMENDED TO PROVIDE LEAVE TO MILITARY FAMILIES The Family and Medical Leave Act (FMLA) now grants FMLA leave rights in two additional circumstances that
More informationOverview of State and Local Green Building Incentives Tri-state Area (New York, New Jersey and Connecticut)
Overview of State and Local Green Building Incentives Tri-state Area (New York, New Jersey and Connecticut) States, local governments and utility companies offer various financial incentives to promote
More information