Recent News

Wednesday, November 6, 2019

A U.S. District Court ruled this week that a company’s previous historic tax credit (HTC) investments and dealings with the Internal Revenue Service (IRS) concerning those investments are not relevant to a current breach-of-contract lawsuit. The U.S. District Court for the Middle District of Louisiana concluded in Chevron TCI Inc. v.

Monday, November 4, 2019

Gov. Roy Cooper signed a bill Friday extending North Carolina’s state historic tax credit (HTC) by four years. H.B. 399 extends the state HTC’s sunset date from the beginning of 2020 to the beginning of 2024, requiring that the property be placed in service by Jan. 1, 2032.

Monday, November 4, 2019

The Texas Historical Commission adopted amended regulations effective today for the state Historic Tax Credit (HTC) program. The amended regulations concern how the commission staff accepts and reviews state HTC applications and allow the staff to close inactive applications. Closure of an inactive application does not disqualify the applicant from receiving tax credits.

Tuesday, October 29, 2019

The United States Tax Court issued a ruling Monday that a limited liability company’s conservation easement failed to meet the requirement for a charitable contribution deduction, disallowing the charitable conservation easement donation. The ruling in Coal Property Holdings vs.

Monday, October 28, 2019

The Texas Historical Commission has adopted new regulations concerning how applicants may appeal a denial of state historic tax credits. The new regulations describe how applicants may appeal a denial of credits based on a finding that their proposed or completed work doesn’t meet the Secretary of the Interior’s Standards for Rehabilitation.

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