Miskovich Presents at New Markets Tax Credits Summit
(Miami Beach, Fla.)
April 29, 2014
Attorney Craig Miskovich was among a group of legal, tax and financial professionals presenting at the 13th annual New Markets Tax Credit Summit.
The Summit was sponsored by the tax advisory and accounting firm Cohn Reznick at the Fontainebleau Resort April 28-30 in Miami Beach, Fla. More than 50 professional service providers presented at the conference, which brings together the most knowledgeable thought leaders in the country to focus on the latest strategies, trends and legislative initiatives and the evolving role of the NMTC program.
“The New Markets Tax Credits Program is relatively new to Vermont, but it has caught on across the country as a way of financing important projects where economic development is the most critical,” Miskovich said. “This conference attracted people from across the country who deal with the program almost daily as well the newly aware. It is a good opportunity to share our experiences in Vermont and New Hampshire, and to learn how this program is being used in other states.”
Authorized by Congress more than ten years ago, the goal of the NMTC program is to generate investments in operating businesses and real estate projects in low-income and rural communities. The program allows investors to reap a 39 percent tax credit spread over seven years. This year’s conference was aimed at Qualified Active Low Income Community Businesses (QALICBs), which form the heart of the investment program. The program has financed a series of investments in Vermont, including an expansion at the EHV Weidmann Company in St. Johnsbury, Commonwealth Dairy in Brattleboro and at the Brooks House in Brattleboro.
A director in DRM’s Brattleboro Office, Miskovich has been the lead attorney on most of the NMTC investments recently completed in Vermont. He was also a partner in a group that bought and renovated the Brooks House in 2012. At DRM, he practices both health law and financial services law.
DRM is a full-service law firm with more than 60 attorneys and six offices in Vermont, New Hampshire and New York. DRM provides legal services to local, national and international clients in practice areas that include bankruptcy and business restructuring, business law, captive insurance, energy and telecommunications, health law, intellectual property, labor and employment, litigation, real estate and land use, environmental law, tax law and trusts and estates. The firm represents clients in legislative, regulatory and public affairs through the Government and Public Affairs group. DRM is the exclusive member firm in Vermont for Lex Mundi - the world's leading network of independent law firms with in-depth experience in 100+ countries worldwide.