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New York has implemented a new beneficial ownership reporting regime (the “New York LLC Transparency Act” or “NYLTA”), effective January 1, 2026, which only applies to limited liability companies (“LLCs”) that were formed outside the United Sta…
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On July 4, 2025, the federal government enacted H. R. 1, “An Act to provide for reconciliation” which is popularly known as the One Big Beautiful Bill Act (“OBBBA”). OBBBA’s 870 pages included significant tax changes, making some provisions of the…
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Issuing qualified small business stock (“QSBS”) is a valuable tool that can provide significant tax savings to searchers and independent sponsors alike upon the eventual sale of one or more of their portfolio companies. Taxpayers who hold QSBS for more…
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On March 21, 2025, FinCEN issued an interim final rule implementing the Department of the Treasury’s March 2, 2025 announcement that U. S. companies and U. S. beneficial owners will not be subject to any reporting requirements under the Corporate Transpare…
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On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it will not be enforcing the current Corporate Transparency Act (“CTA”) deadline of March 21, 2025 for Beneficial Ownership Information Reports (“BOI Reports”).
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Latest Update: On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it will not be enforcing the current Corporate Transparency Act (“CTA”) deadline of March 21, 2025. On March 2, 2025, the Department of …
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Latest Update: On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it will not be enforcing the current Corporate Transparency Act (“CTA”) deadline of March 21, 2025. On March 2, 2025, the Department of …
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Latest Update: On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it will not be enforcing the current Corporate Transparency Act (“CTA”) deadline of March 21, 2025. New deadlines will be forthcoming. Pleas…
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Latest Update: On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it will not be enforcing the current Corporate Transparency Act (“CTA”) deadline of March 21, 2025. On March 2, 2025, the Department of …
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Limited liability companies (LLCs) offer significant tax flexibility – for one thing they can elect to be treated as disregarded entities, partnerships, C corporations, or S corporations, and can even shift between those tax classifications. Some advisor…
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This article, which follows and updates our May 8, 2023 and August 29, 2023 client advisories describing the Act’s provision of such payable tax credits for clean energy investments (also referred to as “refundable investment tax credits” or “refun…
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On March 1, 2024, Judge Liles C. Burke of the Northern District of Alabama, Northeastern Division, ruled in U. S. v. Yellen that the Corporate Transparency Act (the “Act”) is unconstitutional. The federal district court found the Act exceeds Co…
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On December 22, 2023, the IRS activated an online portal (the “Registration Portal”) where users can register clean energy projects and investments, which can then be used to claim energy tax credits which are directly payable to state and local govern…
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The income tax rate for short-term capital gains (e. g. , gains from the sale of capital assets held for 1 year or less) is reduced from 12% to 8. 5%, effective for tax years beginning on or after January 1, 2023. The estate tax will only apply to estates …
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On June 14, 2023, the IRS issued proposed regulations (the “Proposed Regulations”)[1] with respect to energy tax credits which are directly payable to State and local governmental entities as well as to 501(c)(3) organizations as a result of the enactm…
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In a recent case, ES NPA Holding, LLC, et al. v. Commissioner, T. C. Memo. 2023-55, the U. S. Tax Court analyzed profits interests held indirectly through a multi-tier structure. In its analysis, the Court confirmed that a service provider’s profi…
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For the first time, with the enactment of the Inflation Reduction Act of 2022 (the “Act”),[1] federal tax law has made energy tax credits available to State and local governments, and to 501(c)(3) organizations, as cash payments. This article will prov…
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The most important thing to know about the Inflation Reduction Act of 2022 (the “Act”)[1] is that your company will likely not be subject to the most publicized aspects of the Act. The 15% corporate alternative minimum tax on your financial statement i…
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As tax attorneys, we know there is one question that almost every client asks that we cannot answer. We might have a reasonable estimate of the answer, we may even have statistics to support that estimate, but we cannot provide the answer. Providing the an…
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The Massachusetts Department of Revenue has provided guidance on its workaround to the federal income tax system’s $10,000 limit on deductions for state and local taxes for individuals (the “SALT Cap”). On March 18, 2022, it released Technical Inform…
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Latest Update: On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced it will not be enforcing the current Corporate Transparency Act (“CTA”) deadline of March 21, 2025. New deadlines will be forthcoming. Pleas…
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Firm News
More than 60 Hinckley Allen attorneys have been recognized in the 2025 Super Lawyers® and Rising Stars lists across our Connecticut, Florida, Massachusetts, New Hampshire, Rhode Island, and Upstate New York offices. The honorees include both newly selecte…
Firm News
Hinckley Allen is proud to announce that 127 of its attorneys have been recognized in the 2026 edition of The Best Lawyers in America®, representing 75% of the firm’s legal team.
Firm News
More than 60 Hinckley Allen attorneys were named to the Super Lawyers® and Rising Stars lists in Connecticut, Florida, Massachusetts, New Hampshire, Rhode Island, and Upstate New York for 2024, including those newly recognized and featured in the…
Firm News
A total of 57 Hinckley Allen attorneys were named to the Super Lawyers® and Rising Stars lists in Connecticut, Massachusetts, New Hampshire, Rhode Island, and Upstate New York for 2023, including those newly recognized as well as featured in Top …
Firm News
Hinckley Allen today announced that three new attorneys will be joining the firm. They are Boston-based real estate attorney Thomas Bhisitkul and corporate attorneys Charles R. McGonigal and Carlin O’Donnell. As we begin 2022, Hinckley Allen is poised fo…
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