On December 15, 2010, the New York State Department of Taxation and Finance issued a guidance memorandum regarding treatment of the enhanced historic rehabilitation credit available to taxpayers for tax years beginning between January 1, 2010, and December 31, 2014, including:
• treatment of the credit with respect to banks and insurance companies;
• treatment of the credit allocated through partnerships to individuals;
• credit limitations for banks, insurance companies and corporations taxed under Article 9-A;
• credit for tax years beginning on or after January 1, 2015.
For further information, please contact:
Tim Lynn (tim@gslaw.com, or call 315.701.6426)
or Katie Centolella (katie@gslaw.com, or call 315.701.6468).
