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Tag Archives: tax credits

Restocked historic tax credits give new life to restoration projects

Centennial Plaza on Gulfport’s Beach Boulevard (top and above) will be anchored by a Holiday Inn Resort.

By TED CARTER Restorations and conversions of historic buildings across Mississippi stalled when the state ran out of historic tax credits are back in motion with the Legislature’s $60 million replenishment of the credits. The $60 million allocation is for five years and limits the state credits to $12 million annually. Unlike the initial $60 million allocation in 2006, the new ...

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Historic preservation tax credits advance but amounts still uncertain

mississippi capitol

By TED CARTER Competition for Mississippi’s historic preservation tax credits could become more intense in the years ahead as owners of historic properties vie for a limited supply of credits. Mississippi legislators showed their support for the preservation tax credits last week by passing House and Senate bills to replenish a supply that ran out in early 2015. The new supply, ...

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COMMERCIAL FINANCE 701 — Tax credits: key programs and select acronyms

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T ax credit programs cannot be credited with the conception of the term “acronymophobia” – an irrational fear of acronyms – but the phobic population grows with each new program.  Three popular tax credit acronyms for developers are LIHTC, NMTC and HTC. These letters represent incentive programs, which account for about $8.5 billion of annual U.S. credited federal taxes. All ...

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Relocation tax credit bill back for another try

One of the pieces of Secretary of State Delbert Hosemann’s 2013 legislative agenda is a repeat from last year. A bill that would have extended tax credits to corporations that move their national or regional headquarters to Mississippi died in a Senate committee last year. Two bills that would do the same thing currently sit in the House Ways and ...

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Mississippi lacks state tax credits, net metering for alternative energy

Currently it is more profitable for businesses to go “green” by purchasing energy-efficient and alternative energy devices than it is for residents, says Shelley Rhoden, president of Alternative Energy Solutions. “The reason for that is because there are MACR (Modified Accelerated Cost Recovery) tax benefits for businesses,” Rhoden said. “This year businesses have a 50 percent bonus depreciation, which means ...

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CONSTRUCTION — How do low-E windows work?

Low-emissivity (low-E) glass windows work by controlling the heat transfer through windows with insulated glazing. The windows reflect the heat during the summer, while allowing the heat in during the winter. “The angles of the sun control it,” said Todd Cantor, general manager of Window King in Gulfport. “The window is designed to allow the warmth to come in when ...

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Payton, Brees, Manning among Saints taken by scammer

NEW ORLEANS — Unlike this season’s winning on the football field, current and former members of the New Orleans Saints who bought nonexistent tax credits from a defunct movie studio are likely to come out big losers — perhaps getting back only 15 percent of their investment. The Saints personnel — including coach Sean Payton, quarterback Drew Brees and former ...

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SECDE closes on tax credits for Resinall plant

MADISON and HATTIESBURG — SECDE Ventures, LLC has closed on New Markets Tax Credit (NMTC) financing of $18 million for construction of Resinall Mississippi’s new hydrogenated hydrocarbon resin unit at its manufacturing facility in Hattiesburg. SECDE combined $12 million of its NMTC allocation with $6 million of NMTC allocation from MuniStrategies and $15 million of bond proceeds from Mississippi Business ...

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