A proposal by the Massachusetts Department of Revenue (DOR) to modify its successful Brownfields Tax Credit program, and apply the changes to applications submitted as far back as a year ago, has similarities to a recent court ruling in New York. DOR in April proposed new rules affecting applicants for Massachusetts Brownfields Tax Credits. These credits allow eligible parties who remediate a Brownfield site in an economically distressed area (EDA) to recoup a portion of their cleanup costs via a tax credit if the project meets certain requirements. The proposed changes to the program tighten eligibility requirements with the goal
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Cooperstown Environmental LLC announced that it has completed the installation of a rooftop solar photovoltaic (PV) installation in Quincy, Massachusetts. With a placed in service date of November 15th, 2012, the system is producing clean, renewable energy – a projected 135,000 kilowatt-hours (kWh) per year. Fallon Ambulance is the host and will purchase electricity for its own use under a Power Purchase Agreement (PPA) with HOF Solar LLC, the system owner. Fallon will save a significant percentage of its annual energy costs under the deal as well as taking responsibility for approximately one-quarter of its annual electric load. Cooperstown Environmental
Before the sun rose on the morning of August 25, eighty-one stand-up paddleboarders launched from the shores of Plymouth’s Long Beach to begin the fifth-annual Cape Cod Bay Challenge. More than twelve hours later, the group landed at Wellfleet’s Mayo Beach after paddling over 34 miles through fog, wind, and choppy surf. Among the crowd was one of Cooperstown Environmental’s own, Senior Vice President Richard Gang, an avid surfer and stand-up paddleboarder (pictured, right). “This year was definitely the hardest yet,” said Mr. Gang, who has completed a total of three Challenges, “and remembering who we were paddling for kept
A recently published report on state tax credits showed that nearly two-thirds of the recipients of Massachusetts Brownfields Tax Credits in 2011 were clients of Cooperstown Environmental LLC. The Massachusetts Department of Revenue (DOR) earlier this month released its first-ever Tax Credit Transparency Report, listing recipients and amounts awarded under each of thirteen state tax credit programs, including the Film Tax Credit, the Historic Rehabilitation Credit, the Dairy Farmer Credit, and several others. The report showed that the state granted 80 Brownfields Tax Credits in 2011, and nearly two-thirds of the successful applications were prepared and submitted by Cooperstown Environmental
The tax implications of buying, using, and selling Massachusetts Brownfields Tax Credits, which historically have not been well-understood, have become clearer following the release of an IRS Chief Counsel Advice Memorandum late last year. The following summary has been prepared by Cooperstown Environmental based on its reading of the IRS guidance.  Massachusetts Brownfields Tax Credit Program The Massachusetts Brownfields Tax Credit program, created in 1998 to help spur the cleanup and redevelopment of contaminated commercial and industrial properties throughout the state, has been an exceptionally successful program. Hundreds of property owners who are “Eligible Persons” – which the law
Cooperstown Environmental LLC is pleased to congratulate Richard Leung (pictured, above) of Andover’s Boy Scout Troup 77 on achieving the rank of Eagle Scout. In addition to earning a total of 21 merit badges and serving in a leadership position within the troop, each Eagle Scout must complete an individual service project within their community. Mr. Leung worked with the Andover Conservation Commission to replace the old rotting and unstable boardwalk through a marshy area of town land near Rachel Road in Andover. The new boardwalk was completed with over 200 volunteer hours and donations for materials from both troop