Michael A. Jacobs

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Mike Jacobs is a partner at Reed Smith with more than 15 years of experience practicing in Massachusetts. He focuses his practice on state tax planning and controversy matters, with particular emphasis on income/franchise and sales and use taxes. Prior to joining Reed Smith, Mike was a partner at Dechert LLP in Philadelphia and Boston-based law firm Choate, Hall & Stewart. Mike writes and speaks frequently on Massachusetts and national state tax issues.

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Ending Some State- and City-Level Opportunity Zone Tax Benefits in New York

By William Organek, Michael A. Jacobs, Joseph M. Marger and Michael Meyers on 29 April 2021 Posted in Real Estate (U.S.)

The federal opportunity zone program (26 U.S.C. Sec. 1400Z et seq., the “OZ Program”) provides tax benefits to encourage private investment in economically distressed areas. More than 8,700 census tracts, located in every state, Washington, D.C., and five U.S. territories, were designated as opportunity zones. Proponents hoped that investments in these communities would spur economic … Continue Reading

(US) There are two New York real estate transfer tax proposals to watch in Governor Cuomo’s proposed budget

By Michael A. Jacobs on 24 January 2017 Posted in Real Estate (U.S.)

New York Governor Andrew Cuomo introduced his FY 2018 budget proposal on January 17. The proposal includes several significant revenue-raisers, including a few that could impact the New York real estate market. Income Tax – Sourcing of Gain From Sale of Interests in Entities Holding Co-op Shares – Currently, if an individual who is not … Continue Reading