New Markets Tax Credits: IRS Requirements, Pairing With Other Tax Credits and QOZs, Allocating COD Income

Mr. Keogh's practice focuses on helping clients create and manage tax-efficient business structures and capital syndication, particularly in the context of start-ups, real estate and the Opportunity Zone incentive. He is a leading expert on a variety of tax incentives, including the Opportunity Zones Tax Provision (section 1400Z-2), Section 45V the Hydrogen Production Tax Credit, Section 170(f) dealing with the donation of conservation easements, and Section 468B providing for Qualified Settlement Funds. Mr. Keogh provides advice to clients in tax planning and deal structuring around the creation, sale or purchase of businesses or real property and the management of litigation proceeds and settlements. His experience as an economist and attorney enables him to directly and dynamically advise clients on the tax and business implications of transactions and to tax-efficiently structure their capital stack. Mr. Keogh leads Parsons’ tax team in routinely advising clients on securing gain exclusion or deferral under the tax code, including Section 1202 the qualified small business stock exclusion (QSBS), Section 1400Z-2, Section 1031—providing deferral for exchanges of real property, and the provisions allowing for tax-free capitalization of partnerships and corporations such as Section 721, Section 351 and Section 368. 

Mr. Smith is a Shareholder in Maynard Nexsen’s Public Finance Group. He has over twenty-five years of experience and focuses on tax-advantaged finance and securities transactions and on infrastructure transactions. Mr. Smith advises government, nonprofit, and for-profit organizations on taxable and tax-exempt financings, serving as bond counsel, disclosure counsel, issuer’s counsel, and underwriter’s counsel. He also advises clients on related matters, including financing restructurings, interest rate swaps, and tender offers. Finally, Mr. Smith assists clients in navigating post-issuance tax and securities issues, such as determining permitted uses of bond proceeds, arbitrage and rebate compliance, and continuing disclosure.