State Tax Credits

State tax credit programs vary greatly and present myriad tax and structuring issues. While some state low-income housing tax credits are delivered to the owner and investors over the same 10-year period as the federal low income housing tax credits, for example, other state tax credits deliver benefits over different periods of time. Some state credits can be bifurcated, some cannot. Some can be freely transferred, some cannot. State Historic Tax Credits also vary greatly from state to state. Attorneys in Holland & Knight's Syndication Group understand these nuances and can apply their know-how to your transactions.

Making Connections for Clients

Holland & Knight’s syndication attorneys will help you cut through the complexity by leveraging the relationships we have developed in handling federal tax credit transactions. One of our key contributions is to bring together developers and sponsors of affordable housing/historical rehabilitation projects and willing state tax credit investors.

Federal and State Tax Credit Knowledge

You can rely on Holland & Knight’s Syndication Group in transactions that involve both federal and state tax credits. With offices across the country and knowledgeable attorneys in multiple jurisdictions, we can also efficiently advise on any state tax credit matter.

Unique In-House Resource for Pinpointing Your Opportunity

We created – and continually update – a comprehensive library of the various state low-income housing and state historic rehabilitation tax credits, giving our attorneys a valuable in-house resource.

Representative Transactions

A sampling of our extensive experience with state tax credit programs includes the following:

• Holland & Knight’s Syndication Practice helped form state tax credit investment funds for the Missouri and Georgia low-income housing tax credits, and performed the acquisition work for those funds as they invest their investor’s equity in state tax credit transactions.
• The Holland & Knight team has developed innovative structuring techniques to deal with the tax issues that arise in some transactions that involve one federal tax credit investor and a different state tax credit investor.
• Our attorneys played, and continue to play, a substantial role in the development of the statutory and regulatory framework for the Rhode Island and Massachusetts historic tax credits.