Tax free exchanges using tenant in common interests: the IRS clarifies the otherwise murky area

Article Abstract:

The recent clarification issued by the Internal Revenue Service on treatment of the consideration from the sale or acquisition of a property in which the tenants have common interest is discussed and analyzed. The provisions allow the owners to sell their undivided interest in the real property and claim the transaction as a Tax-Free Exchange. The IRS has also added that its clarification is not to be interpreted as law and is exclusively for the tax purposes.

Product standards, safety, & recalls, Acquisitions & mergers, Taxes, Standards, Taxation, Mergers, acquisitions and divestments, Company acquisition/merger, Property

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Allocating charitable conservation easement deductions to equity investors

Article Abstract:

The tax benefits arising from the donations of conservation easements in their projects by developers are examined. The requirement that the operating agreement governing Owner LLC provide for the creation and maintenance of its members' capital accounts in accordance with Code 704 is one of the stipulations to the Internal Revenue Service's honoring the allocation of the charitable deduction.

Company investment, Investments, Real estate development, Powers and duties, Charitable contributions, Charitable donations

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Ten things to know about new markets tax credit investments

Article Abstract:

The salient aspects of the new markets tax credit program awards are discussed and the methods of availing these new markets tax credit (NMTC) are suggested. It may be noted that NMTC program forms part of Community Renewal Tax Relief Act of 2000 that is intended to bring in investments for the economic development in low-income communities.

Economic Programs-Total Govt, Administration of Economic Programs, Analysis, Finance, Economic development, Company financing, Tax credits

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