Tax credit

Newmark Lands Leading National Affordable Housing Advisory Team

Retrieved on: 
Thursday, February 15, 2024
Tax credit, Newmark Group, Capital market, AHA, Sun Belt, Growth, Marcus & Millichap, Section 8, Housing, Video game

NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces it has hired the team formerly with Affordable Housing Advisors (AHA) – a leading brokerage team and platform previously housed out of Marcus & Millichap.

Key Points: 
  • NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces it has hired the team formerly with Affordable Housing Advisors (AHA) – a leading brokerage team and platform previously housed out of Marcus & Millichap.
  • The team, which will operate as Newmark Affordable Housing Advisors, or NAHA, is led by Vice Chairmen and Co-Heads of Affordable Housing, Andrew Daitch, Steven Miscavish, Seth Barnett and Matthew Kurzmann, who will tap into Newmark's extensive resources while continuing to provide expert market knowledge and advisory services to clients in the affordable housing industry.
  • Founded in 1987, AHA was one of the first brokerage groups to specialize in affordable housing, establishing themselves as the U.S. industry leader.
  • Steven Miscavish has over 22 years of industry expertise and leads the underwriting team that reviews more than 1,500 affordable housing properties annually.

Venture Capital Funding in Energy Storage Increases 59% Year-over-Year, with a Record $9.2 Billion in 2023

Retrieved on: 
Thursday, January 25, 2024
Technology, Green Technology, Other Energy, Environment, Utilities, Alternative Energy, Energy, Urban Planning, REIT, Finance, Consulting, Banking, Professional Services, Building Systems, Other Natural Resources, Natural Resources, Other Technology, Software, Other Construction & Property, Sustainability, Commercial Building & Real Estate, Hardware, Construction & Property, Lithium, Material, EO, Corporation, Energy storage, Redwood Materials, Inc., Tax credit, Component, Smart grid, Battery recycling, Capital Group Companies, Inflation, SPAN, Cryptocurrency

Venture capital (VC/PE) funding in Energy Storage in 2023 was the highest ever recorded, with $9.2 billion in 86 deals.

Key Points: 
  • Venture capital (VC/PE) funding in Energy Storage in 2023 was the highest ever recorded, with $9.2 billion in 86 deals.
  • "Energy storage companies saw their highest VC funding in 2023, largely thanks to the Inflation Reduction Act's Investment Tax Credit and other incentives like manufacturing credits for battery components.
  • Corporate funding for Energy Storage companies in Q4 2023 totaled $3.7 billion in 26 deals.
  • Announced debt and public market financing for Energy Storage companies in 2023 came to $9.8 billion in 34 deals.

Strata Clean Energy Breaks Ground on 1 GWh Scatter Wash Energy Storage Project in Phoenix

Retrieved on: 
Thursday, January 18, 2024
Other Energy, Technology, Utilities, Batteries, Alternative Energy, Energy, ITC, Tax credit, Kilowatt-hour, Electricity, Operation, Software, Primary energy, Arizona Public Service, APS, Economic development, Please, Inflation, Renewable energy

Today, Strata Clean Energy (Strata), a pioneer in grid-scale renewable energy solutions, celebrated a major milestone for its Scatter Wash battery storage complex in Phoenix, Ariz., with a groundbreaking that included executives from Strata, along with representatives from Arizona Public Service (APS), and other local dignitaries.

Key Points: 
  • Today, Strata Clean Energy (Strata), a pioneer in grid-scale renewable energy solutions, celebrated a major milestone for its Scatter Wash battery storage complex in Phoenix, Ariz., with a groundbreaking that included executives from Strata, along with representatives from Arizona Public Service (APS), and other local dignitaries.
  • IMAGE: Strata Clean Energy President Josh Rogol (third from left) breaks ground on the Scatter Wash battery storage complex with partners, local dignitaries.
  • Under the terms of the agreement, Strata will build, own, and operate the Scatter Wash battery storage complex as part of the firm’s growing portfolio of clean-energy assets.
  • The development of Scatter Wash is supported by the Investment Tax Credit (ITC) for standalone energy storage created by the Inflation Reduction Act of 2022.

HiringThing and HRlogics Partner to Enhance Compliant Hiring Practices

Retrieved on: 
Thursday, January 25, 2024
SHRM, Family, Employment, Tax credit, Partnership, WOTC, Crime, Mental health, Workflow, Environment, Travel, Organization, Unemployment

BARTONSVILLE, Pa., Jan. 25, 2024 /PRNewswire-PRWeb/ -- HiringThing, the premier white label recruiting platform, has added HRlogics, a leader in HR compliance solutions, to their Partner Marketplace in order to help businesses of all sizes leverage the valuable Work Opportunity Tax Credit (WOTC) incentive to its fullest potential.

Key Points: 
  • HiringThing and HRlogics enter a partnership to deliver solutions for maximizing benefits of the Work Opportunity Tax Credit (WOTC) program.
  • "Companies are rethinking who is the 'ideal' employee," says HiringThing HR Strategic Business Partner Becca Noland.
  • HRlogics is now available to all HiringThing users in their Partner Marketplace.
  • The integration empowers organizations to maintain a secure and compliant hiring environment, saving time and resources while fostering confidence in their recruitment processes.

Origis Energy Secures $317 Million in Project Tax Equity with J.P. Morgan

Retrieved on: 
Wednesday, January 24, 2024
ITC, Tax credit, Power purchase agreement, J. P. Morgan, Hunton Andrews Kurth, TVA, Tax, Inflation, PTC, Tennessee Valley, Renewable energy

MIAMI, Jan. 24, 2024 /PRNewswire/ -- Origis Energy, one of America's leading renewable energy and decarbonization solution platforms, today announced it has secured $317 million in project tax equity funding from J.P. Morgan for two utility-scale solar and solar plus battery storage projects located in New Mexico and Mississippi respectively.

Key Points: 
  • The tax equity will support two large-scale renewable energy projects: a solar and battery storage project in Mississippi and a solar project in New Mexico.
  • MIAMI, Jan. 24, 2024 /PRNewswire/ -- Origis Energy , one of America's leading renewable energy and decarbonization solution platforms, today announced it has secured $317 million in project tax equity funding from J.P. Morgan for two utility-scale solar and solar plus battery storage projects located in New Mexico and Mississippi respectively.
  • Tri-State and Origis Energy recently announced reaching the milestone of over 250,000 solar panels installed at the project.
  • The tax equity agreement leverages both the Investment Tax Credit (ITC) and the Production Tax Credit (PTC) incentives of the Inflation Reduction Act.

2024 Novogradac Journal of Tax Credits Awards Season Launches with Introduction of New Honor

Retrieved on: 
Tuesday, January 16, 2024
Ibanez, Social media, Season, SAN, Tax credit, History, Distinction, Conference, Community development, Video game

SAN FRANCISCO, Jan. 16, 2024 /PRNewswire-PRWeb/ -- Novogradac is now accepting submissions for the 2024 Novogradac Journal of Tax Credits Awards in four categories, including the Robert E. Ibanez Award introduced this year. Nominations are due March 1.

Key Points: 
  • SAN FRANCISCO, Jan. 16, 2024 /PRNewswire-PRWeb/ -- Novogradac is now accepting submissions for the 2024 Novogradac Journal of Tax Credits Awards in four categories, including the Robert E. Ibanez Award introduced this year.
  • The Robert E. Ibanez Award honors the late Bob Ibanez, who died in April 2023.
  • Honorees receive national recognition, including coverage in the Novogradac Journal of Tax Credits and presentation of an award at a 2024 Novogradac conference.
  • For more information about the 2024 Novogradac Journal of Tax Credits Awards, visit http://www.novoco.com/events/awards or contact Novogradac at [email protected] .

Spearmint Energy Completes 300 MWh Battery Energy Storage System in ERCOT Power Market; Revolution Commences Commercial Operation

Retrieved on: 
Thursday, January 4, 2024
Environment, Technology, Batteries, Alternative Energy, Green Technology, Energy, Hardware, Mortensen, PCS, Workforce, Partnership, Tax credit, Inflation, BESS, Electricity, ERCOT, Climate change, Spearmint, Face, Safety, Natural gas, Renewable energy

Spearmint Energy (“Spearmint” or the “Company”) a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the successful completion of Revolution, the Company’s 150 MW, 300 MWh battery energy storage system (“BESS”) project in West Texas.

Key Points: 
  • Spearmint Energy (“Spearmint” or the “Company”) a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the successful completion of Revolution, the Company’s 150 MW, 300 MWh battery energy storage system (“BESS”) project in West Texas.
  • Revolution, which ranks among the largest BESS projects in the United States, has commenced commercial operation to support a low-cost, clean, and resilient grid for homes and businesses throughout ERCOT.
  • “We are proud to commence commercial operation at Revolution, our debut grid-scale storage project, to reliably deliver energy throughout ERCOT whenever and wherever it is needed.
  • The project reached mechanical completion following the delivery and installation of Sungrow’s PowerTitan Series battery energy storage system.

Novogradac Announces Promotion of Five Principals to Partner

Retrieved on: 
Tuesday, January 2, 2024
Brigham Young University, Partnership, LIHTC, Tax credit, Forecasting, Bowling Green State University, HUD, NMTC, Housing, American Institute, Ohio University, Accounting, OZ, Certification, HTC, University, Tran, Kent State University, Certified Public Accountant, Investment, Publication, RETC, Organization, Rieger, GAAP, Property management

SAN FRANCISCO, Jan. 2, 2024 /PRNewswire-PRWeb/ -- National accounting and consulting enterprise Novogradac elevated five principals to partner Jan. 1–Dayle Dalling of the metro Philadelphia office; Ryan Rieger and Aaron Sherrard of the Dover, Ohio, office; Tong Tran of the Walnut Creek, California, office; and Jason Watkins of the metro Atlanta office.

Key Points: 
  • "My partners and I are proud to welcome these hard-working individuals to the partnership," said Michael J. Novogradac, managing partner of Novogradac.
  • "My partners and I are proud to welcome these hard-working individuals to the partnership," said Michael J. Novogradac, managing partner of Novogradac.
  • "Bolstering our leadership with these five new partners ensures we will continue to serve the community development world for years to come."
  • Rieger has contributed to various publications, including the Novogradac Journal of Tax Credits and the Novogradac New Markets Tax Credit Handbook and is a frequent speaker at industry events.

Broadwind Announces Agreement to Sell Approximately $15 Million of IRA Advanced Manufacturing Tax Credits

Retrieved on: 
Wednesday, December 27, 2023
Transfer, Internal Revenue Code, Credit transfer, Tax credit, MarketAxess, Agreement, Sale, IRA, Wind, Inflation, IRC

CICERO, Ill., Dec. 27, 2023 (GLOBE NEWSWIRE) -- Broadwind (Nasdaq: BWEN), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced that it has entered into a definitive Tax Credit Transfer Agreement (the “Agreement) with MarketAxess Holdings Inc. (the “Purchaser”) to sell earned Advanced Manufacturing Production Credits (“Tax Credits”), as outlined within the Inflation Reduction Act (IRA).

Key Points: 
  • CICERO, Ill., Dec. 27, 2023 (GLOBE NEWSWIRE) -- Broadwind (Nasdaq: BWEN), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced that it has entered into a definitive Tax Credit Transfer Agreement (the “Agreement) with MarketAxess Holdings Inc. (the “Purchaser”) to sell earned Advanced Manufacturing Production Credits (“Tax Credits”), as outlined within the Inflation Reduction Act (IRA).
  • Under the terms of the Agreement, Broadwind expects to sell approximately $15 million of tax credits, less discounts, transaction fees and related expenses.
  • Subject to the Agreement, the Tax Credits will be assigned to the Purchaser pursuant to IRC Section 6418.
  • Under the terms of the Agreement, Broadwind has also agreed, on a quarterly basis, to sell to the Purchaser Section 45X Tax Credits generated in 2024.

EZ-ERC Is Now Sagemont Tax: A New Chapter in Professional Excellence

Retrieved on: 
Friday, December 22, 2023
Financial Crimes Enforcement Network, WOTC, Tax credit, BOI, ERC, COVID-19, Organization, Insurance

Beginning in 2024, EZ-ERC will operate as Sagemont Tax, and its newly established sister company, Sagemont Advisors, will expand beyond the ERC space to offer a broader scope of tax and advisory services.

Key Points: 
  • Beginning in 2024, EZ-ERC will operate as Sagemont Tax, and its newly established sister company, Sagemont Advisors, will expand beyond the ERC space to offer a broader scope of tax and advisory services.
  • Sagemont Tax will continue to be managed by industry-leading CPAs and attorneys, and the company remains steadfast in delivering ERC-related tax services throughout and beyond the program's expiration.
  • "As we venture into this new chapter as Sagemont Tax and Sagemont Advisors, we are excited about the opportunity to continue to add long-term value for our current and future clients.
  • Our expanded service offerings will reach far beyond the ERC, encompassing a wide range of professional services to optimize our clients' tax positions and enhance their financial well-being," said Kenneth Dettman, CEO of both Sagemont Tax and Sagemont Advisors.