Sixth Circuit Rules Low Income Housing Tax Credit Refusal Rights Are Special
Facilitation of the investor exit after the expiration of the fifteen-year compliance period is, therefore, crucial to the efficacy of the LIHTC program. The mechanism creates an incentive, as discussed, for nonprofits to participate in the program; nonprofits will be less likely to enter a partnership that includes an investor, if doing so entails a serious risk of an ownership battle after the fifteenth year.
Lessons From Gene Bicknell’s Victory Over Kansas In Domicile Dispute
It turned out that the questionnaire had been handled by a senior wealth advisor who had a team reconstruct the days from information they had available. Gene was able to establish that he had not really paid any attention to it and had his assistant sign it. At trial Gene testified that he didn’t average more than 30 days per year in Kansas in 2005 and 2006. Friends, family and colleagues corroborated this claim.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.