Last week, the South Carolina Department of Revenue issued what’s widely viewed as a taxpayer-friendly ruling that updates its guidance on the state’s popular textile tax credit program. The ruling offers clarity for...more
Real estate developers have long had ample reasons to take on projects involving historic buildings, courtesy of Section 47 of the Internal Revenue Code of 1986. As amended, Section 47 (the “Code”) provides for a...more
During the recent session, the Alabama Legislature passed House Bill 281, extending Alabama's historic preservation tax credit (the Credit) for an additional five years through 2027. The Credit began in 2013, has been...more
In 2017 the Texas Legislature passed House Bill 1003, which made the Texas Historic Preservation Tax Credit available to state university systems and other state institutions of higher education. Following this change,...more
House Bill 1493 has been introduced to amend the Arkansas historic rehabilitation income tax credit. The bill would reduce the investment threshold necessary for homeowners to qualify for the Arkansas historic...more
Texas insurers may now be able to buy premium tax credits at a discount. In 2013, the 83rd Legislature established the Texas Historic Preservation Tax Credit Program, which allowed for companies engaged in restoration of...more
The original Alabama Historic Tax Credit (“HTC”) program was successful in stimulating the redevelopment of aging properties across Alabama, and was particularly recognized for its role in the revitalization of downtown...more