HTC and GAAP

Tuesday, September 20, 2016 - 1:00pm to 5:00pm
 
 
Cost: $255. No discount if purchased with conference registration.

Agenda

Noon-1 p.m.

Registration

1-1:55 p.m.

Introduction of GAAP accounting for HTCs

  • Difference between income tax basis and other OCBOAs

4 Topical Areas

  • Balance Sheet, Income Statement, Statement of Cash Flows, Disclosures

Single-Tier HTC Structure

  • Walkthrough of transaction example
  • Investor/Owner considerations:
    • Investment accounting:
      • Cost method
      • Equity method
      • Consolidation
    • Investment impairment
    • Investment tax credit accounting:
      • Deferral method
      • Alternative method
    • Deferred taxes:
      • Deferred tax assets
      • Deferred tax liabilities
1:55-2 p.m.Break

2-2:55 p.m.

Single-Tier HTC Structure con't

  • Developer/Owner Considerations:
    • Investment accounting
      • Cost method
      • Equity method
      • Consolidation
    • Deferred Developer Fees
  • Property Considerations:
    • Construction in progress transition to depreciable assets
    • Depreciation
    • Asset impairment
2:55-3:05 p.m.Break

3:05-3:55 p.m.

Flip Structure

  • Walkthrough of transaction example
  • Investor/Owner Considerations:
    • Safe Harbor Guidelines
    • Exit of HTC Investor
  • Developer/Owner Considerations
    • Differences from single-tier structure
  • Property Considerations
    • Differences from single-tier structure
3:55-4 p.m.Break
4-5 p.m.

Master Tenant Structure

  • Walkthrough of transaction example
  • Investor/Owner Considerations
    • Section 50(d) income
      • Uncertain tax positions
      • Effects of 50(d) income on deferred tax assets and liabilities
  • Developer/Owner/Tenant Considerations
    • Leases for lessees - current standards
  • Property Considerations
    • Leases for lessors - current standards
    • Sale-leaseback accounting
  • Q&A