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Q&A: Kenny McDonald, CEcD
Tax ReformVorys has a dedicated team of attorneys monitoring the day-to-day tax reform developments and the potential impact of the legislation on our clients. If you have any questions about tax reform, please contact your Vorys attorney. UPDATE: New Effective Date for the Ohio Historic Preservation Tax Credit Certificate Could Cause Delay in Claiming CreditBy: Kelly B. Bissinger, Joseph B. Mann and Daniel R. Bross In order to claim Ohio Historic Preservation Tax Credits (OHPTCs) on a project, a taxpayer must first receive a tax credit certificate (certificate) from the Ohio Development Services Agency (ODSA). Once a taxpayer has received a certificate, a taxpayer may then claim the resulting OHPTCs for the taxable year of the effective date reflected on the certificate. Click here to read more. Illinois Reinstates and Revises the EDGE Tax CreditOne of Illinois’ main economic development incentives is back. On September 18, 2017, Illinois Governor Bruce Rauner signed into law H.B. 162, which reinstates the Economic Development for a Growing Economy (EDGE) Tax Credit Program and extends the sunset date to June 30, 2022. Click here to learn more. Save the Date: Vorys Economic Development Incentives Conference is Feb. 23The third annual Vorys Economic Development Incentives Conference is scheduled for Friday, February 23, 2018. Last year, more than 120 developers, company representatives and community leaders arrived to hear a half-day of presentations focused solely on incentives issues. We are excited about the expected slate of presenters for the 2018 conference. We plan to welcome speakers on a number of interesting topics, such as key economic development incentive ideas from across the country, incentives considerations in multi-phase projects, federal tax considerations in incentives deals, and do’s and don’ts while working with the media during incentives transactions. We’ll once again have breakout sessions specifically for operating businesses and developers. Please be on the lookout for further information, including how to register, in the coming weeks. This program is expected to offer CLE (legal), CPE, and real estate (CE) credit. Around the WebEarly Tax Reform Details Provide Good, Bad, In-Between News for Tax Credits – Novogradac & Company House tax plan faces bipartisan backlash over repeal of development incentives Washington Post GOP Tax Plan Puts Billions in Muni Market Savings at Risk - Governing TIF Commission rejects request for Broadway Hotel expansion financing - Missourian Wisconsin’s Foxconn Tax Deal OK’d With State Safeguards – Bloomberg BNA |
ContactsWilliam D.G. Baldwin  Karen H. Bauernschmidt Aaron S. Berke Kelly B. Bissinger Bryan H. Falk Nicholas R. House Christopher J. Knezevic Joseph B. Mann Jacinto A. Núñez J. Theodore Smith Lindsay Doss Spillman Jonathan K. Stock Jill S. Tangeman Kristin L. Woeste Scott J. Ziance |
This newsletter is for general information purposes and should not be regarded as legal advice. As always, please let us know if you want more information or have questions about how these developments apply to your situation. |