Kris concentrates his practice on tax issues involving state and federal new markets tax credit programs, renewable energy tax credits, and historic rehabilitation tax credits. Kris regularly advises businesses, tax-exempt organizations, and individuals on tax issues related to a variety of business transactions, as well as representation before the Internal Revenue Service, state revenue agencies, and the courts. Before joining Pierce Atwood in 2009, Kris clerked for Judge Harry Haines of the United States Tax Court.
Kris has worked extensively with the federal new markets tax credit and Maine's new markets capital investment program since its inception in 2011. On renewable energy matters, Kris advises clients with respect to federal and state tax credits for renewable energy projects and investments, including the section 1603 grant program, investment tax credits, and production tax credits, as well as strategies for the monetization and syndication of those credits.
Kris is a frequent speaker on federal and state tax issues, including renewable energy tax credits, new markets tax credit financing, and tax practitioner ethical considerations.
Recent Experience
- Represented a paper company in a $40 million new markets financing, which included $40 million of allocation under Maine's new markets program, and $10 million of allocation under the federal program; to date, this is the only transaction to successfully close under Maine's new markets program
- Currently representing a borrower in connection with a $40 million new markets financing, which will include $40 million of allocation under Maine's new markets program and $20 million of allocation under the federal program
- Advised a renewable energy developer of a 50MW open-loop biomass project regarding receipt of various federal tax incentives and the section 1603 cash grant
- Representation of a solar energy developer in connection with monetization of state renewable energy credits and federal investment tax credit
- Secured IRS Appeals' full concession of a client's substantial conservation easement deduction
- Received favorable private letter ruling from IRS regarding inadvertent termination of a client's "S corporation" status
- Represented several clients with respect to voluntary disclosure of offshore bank accounts, investments, and other assets
- Tax planning for an individual high-net-worth client regarding his permanent relocation to a foreign country, including formation of trust and LLC structure to hold various investments in a tax-efficient structure
Professional Activities
Member, American Bar Association, Section of Taxation, Partnership and LLC Committee, Administrative Practice Committee, Private Equity Committee, 2009-present
Co-Chair, Maine Bar Association, Tax Section, 2012-present