Our tax team assists companies seeking to locate or expand in Maine, Massachusetts, New Hampshire, and Rhode Island to take advantage of available economic incentives. The team also regularly lobbies on behalf of business groups in Maine to design, maintain or expand tax incentives. Our experience includes Business Equipment Tax Exemption/Reimbursement benefits, Major Business Headquarters Expansion Credit, Shipbuilding Credit, historic rehabilitation tax credits, renewable energy tax credits, investment tax credits, tax increment financing, employment tax increment financing, new markets tax credits, sales tax exemptions, and the Dirigo Business Incentive Program.
Representative Experience
Representation of Capone Iron Corporation in a $10 million new markets tax credit financing for the construction of a manufacturing facility.
Representation of a tax credit investor in connection with a new markets tax credit financing of a $10 million real estate development in Brunswick, Maine.
We assisted the Farnsworth Art Museum, located in Rockland, Maine, with a combined state and federal new markets tax credit financing, helping the museum to secure capital needed for critical repairs and improvements to the building. The NMTC investment has allowed the museum, which opened in 1948 and boasts a remarkable collection of over 15,000 objects, to stay open and continue welcoming more than 100,000 visitors annually.
We assisted our client in securing a Community Development Block Grant (CDBG) to further support the growth of the company in Maine. Administered by the U.S. Department of Housing and Urban Development (HUD), the CDBG program provides communities with resources to address a wide range of unique community development needs.
We successfully advocated for the enactment of legislation to improve the Business Equipment Tax Exemption and avoid cuts to the Business Equipment Tax Reimbursement and Pine Tree Zone programs.