The proposed regulations clarify what property qualifies for the credit, which taxpayers qualify for increased credit amounts and several other key aspects of the ITC. The Department of the Treasury (“Treasury”) and Internal Revenue Service (“IRS”) proposed regulations on November 17, 2023, that would clarify key components of the Investment […]
Dirt Alert
IRS Clarifies Which Tax-Exempt Entities Qualify for “Direct Pay” In Lieu of Clean-Energy Tax Credits
Proposed IRS regulations clarify that political subdivisions, electrical cooperatives and other tax-exempt entities qualify to receive direct payments in lieu of clean-energy tax credits. The Internal Revenue Service (“IRS”) recently proposed regulations that clarify which entities qualify for the “direct pay” benefit under the Inflation Reduction Act (“IRA”). These credits […]
Impacts of Wind and Solar Energy Development on Property Taxes and Rural Economies in Nebraska
This report, prepared by Partner David Levy and Associate Lee Greenwald, reviews the benefits of of renewable energy in Nebraska. View the full report here: Impacts of Wind and Solar Energy Development on Property Taxes and Rural Economies in Nebraska
Nebraska Supreme Court: Lack of Control Over Corporation at Relevant Times Prevents Corporate Veil Piercing
407 N 117 Street v. Harper, 314 Neb. 843 (2023). 407 N 117 Street, LLC (“407”) leased property to Planet Group for a 7-year term. Planet Group later exercised a lease option for an additional 5-year term. Eventually Planet Group stopped making lease payments to 407. 407 sued Planet Group […]
Nebraska Supreme Court: Mandatory Bench Trials for Residential Evictions May Violate Constitutional Jury Guarantee
NP Dodge Mgmt. Co. v. Holcomb, 314 Neb. 748 (2023). The Nebraska Uniform Residential Landlord and Tenant Act (“Act”) provides an expedited trial process for residential evictions. Evictions begin when the landlord issues the tenant a notice of termination. Neb. Rev. Stat. §§ 76-1431 & 76-1437. After the statutory notice […]