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APPEALS COURT REVERSES TAX COURT DECISION IN BOARDWALK HALL

Monday, August 27, 2012 - 7:00AM

The U.S. Court of Appeals for the 3rd Circuit today filed an opinion overturning the U.S. Tax Court’s Jan. 3, 2011 decision on Historic Boardwalk Hall (HBH) v. Commissioner. The court found that the project’s historic tax credit (HTC) equity investor, Pitney Bowes Inc., was not a bona fide partner in HBH because it lacked a meaningful stake in the project’s success or failure. The court remanded the case for further proceedings consistent with its opinion.

Learn about the implications that the court’s decision may have for the HTC industry at the National Historic Tax Credit Conference, Sept. 6-7 in Louisville, Ky.

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