Meet the Co-chairs - TAGLAW
Williams Mullen (VA)
Meet the Co-chairs - TIAG
Mercer & Hole
Cohen & Company (Ohio)
Fineman West & Co. LLP
Contact: Ilmar-Erik Aavakivi, Aivar Pilv Law Office (Estonia)
On 1 July this year, the changes in the State Fees Act stepped into force which, as the politicians promised, were to reduce the state fees three to five times. As such, the changes are progressive. Yet, they have some “buts”.
Contact: Jenny H. Connors and Allison T. Domson & Conrad Garcia; Williams Mullen (North Carolina and Virginia, USA)
On August 27, 2012, the United States Court of Appeals for the Third Circuit reversed the holding of the United States Tax Court in the case of Historic Boardwalk Hall, LLC v. Commissioner, 136 T.C. 1 (2011). Relying heavily on the decision of the Second Circuit in TIFD III-E, Inc. v. United States, 459 F.3d 220 (2d Cir. 2006) (“Castle Harbour”) and the decision of the Fourth Circuit in Virginia Historic Tax Credit Fund 2001, LP v. Commissioner, No. 10-1333 (4th Cir. 2011) (“Virginia Historic”), the Third Circuit found that Pitney Bowes, Inc. (“Pitney Bowes”), a private sector investor in Historic Boardwalk Hall, LLC (“Historic Boardwalk”), had no meaningful stake in Historic Boardwalk, and, therefore, was not a bona fide partner of the partnership for federal income tax purposes. As a result, all allocations of historic rehabilitation tax credits previously allocated to Pitney Bowes were reallocated to the New Jersey Sports and Exposition Authority (the “New Jersey Sports Authority”) as the owner of East Hall.
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Contact: Boodle Hatfield (London, England)
On what basis is a property that has been purchased by friends to be divided?
Where a person has an expectation of receiving certain property from an estate and is left disappointed, they may have a claim based on the doctrine of proprietary estoppel...
Contact: Spencer Fane Britt & Browne LLP (Missouri, USA)
Business owners are bombarded by the uncertainty caused by the upcoming election and the anticipated 2013 increases in personal income taxes, capital gains
- Gifts of Limited Partnership Interests Qualified for the Annual Gift Tax Exclusion
- Testamentary Limited Power of Appointment May Not Prevent Transfer to Irrevocable Trust From Being Subject to Gift Tax
- Boodle Hatfield Private Client & Tax News Spring 2012
- New IRS Form 8938 – Statement of Specified Foreign Financial Assets