IRS Provides Guidance on IRA’s Prevailing Wage and Apprenticeship Requirements and Construction/Installation Dates

November 30, 2022 | Business Credits

IRS Provides Guidance on IRA’s Prevailing Wage and Apprenticeship Requirements and Construction/Installation Dates (Notice 2022-61; IR-2022-208) Nov. 30, 2022 An IRS Notice provides guidance on the prevailing wage and apprenticeship requirements that the Inflation Reduction Act of 2022 (P.L. 117-169) added to several new and amended tax credits and deductions. The IRS also anticipates issuing […]

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California—Corporate, Personal Income Taxes: Tax Credit Changes, Forgiven PPP Loan Conformity, and More Enacted

July 14, 2022 | Tax Credits

Jul. 7, 2022 California—Corporate, Personal Income Taxes: Tax Credit Changes, Forgiven PPP Loan Conformity, and More Enacted California has enacted budget-implementing legislation that includes corporation franchise and income and personal income tax changes relating to: the Main Street Small Business Tax Credit; the Homelessness Hiring Tax Credit; the California Competes Tax Credit; forgiven Paycheck Protection […]

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State Tax Alerts and Updates

July 11, 2022 | Blog, Tax Credits, Tax Incentives

Arizona Arizona—Corporate, Personal Income Taxes: Motion Picture Production Credit Enacted Jul. 11, 2022 Arizona will allow motion picture production companies a new refundable income tax credit for tax years beginning after December 31, 2022. How do companies qualify for the credit? To qualify for the credit, a motion picture production company must either: use a […]

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Illinois: Recovery and Mental Health Employment Credit Enacted

June 30, 2022 | Tax Credits

Illinois —Corporate, Personal Income Taxes: Recovery and Mental Health Employment Credit Enacted Jun. 14, 2022 Effective for tax years beginning on or after January 1, 2023, Illinois is providing a corporate and personal income tax credit to employers in the state who hire eligible individuals in recovery from a substance use disorder or mental illness. […]

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