In the Summer 2019 edition of Development Incentives Quarterly, read about the provisions that impact state law governing economic development incentives in Ohio's Budget Bill and the changes coming to Ohio's Job Retention Tax Credit.

Taxpayers seeking to contest the values established by the local assessor have a short time-to contest their new valuation. This time frame varies by state and by local jurisdiction and in many cases begins to run upon mailing of a new value notice.

Since the last edition of The Evaluator, there have been several notable decisions from courts and tax boards; and legislative developments in jurisdictions across the country.

Tom McDonald, a partner in the Vorys Washington, D.C. office, authored an article for Corporate Counsel titled "Five Tips for Conducting Business in an Emerging Market."

On May 17, 2019, the White House issued a Presidential Proclamation on imports of passenger vehicles (sedans, sport utility vehicles, crossover utility vehicles, minivans, and cargo vans) and light trucks and certain automobile parts (engines and engine parts, transmissions and powertrain parts, and electrical components).

Investors considering an investment intended to benefit from the federal Qualified Opportunity Zone (QOZ) program should also explore the availability of similar state programs.

Through Vorys’ fourth annual Economic Development Incentives Conference – hosted in February – we welcomed more than 270 guests from three countries and seven states.

Taxpayers seeking to contest the values established by the local assessor have a short time-to contest their new valuation.

Since the last edition of The Evaluator, there have been several notable legislative developments and decisions from courts and tax boards in jurisdictions across the country.

Property taxes are frequently the largest non-productive expense incurred by property owners, and proactive management of this expense may result in increased profitability.

Every six years the State of Ohio requires counties to reappraise real estate.

Every six years the State of Ohio requires counties to reappraise real estate.

Taxpayers seeking to contest real property tax values established by assessing jurisdictions across the country often have a short window of opportunity to contest their new valuation.

On October 19, 2018, Treasury issued Proposed Regulations and a Revenue Ruling (together, the Guidance) which address many important QOZ questions, generally in a taxpayer favorable manner. 

On August 29, 2018, House Speaker Pro Tempore Kirk Schuring introduced a bill (H.B. No. 727) to create a tax credit for investments in Qualified Opportunity Zones.

A recent decision from the U.S. Court of Appeals for the Federal Circuit changes the landscape for defendants in patent infringement cases, and in certain circumstances may limit their ability to challenge a plaintiff’s patent using the inter partes review (IPR) proceeding established in 2012.

Laura Geyer, a partner in the Vorys Washington, D.C. office, authored an article for Westlaw’s Intellectual Property Journal.

Recently, there have been several notable decisions from courts and tax boards in jurisdictions across the country including Ohio, Illinois, Michigan, Colorado, Tennessee, Minnesota, Indiana and North Carolina. These decisions related to numerous real estate tax areas including exemptions and assessments.