Another Tax Court Case Deems State Tax Credit Investment a Disguised Sale

Published by Michael Novogradac on Tuesday, February 25, 2014 - 12:00am

Another Tax Court case involving Virginia state tax credits has held that state tax credits are property, and, under the facts of the case, the allocation of the credits to a partner was a disguised sale.

Route 231, LLC, Memo.Kerrigan.TCM.WPD