Tax

Tax Credits

The Quarles & Brady Tax Credit Team has existed for over 30 years and is composed of tax, real estate, and finance lawyers. Our attorneys have broad experience in low-income housing, new markets, historic, film, and other state-specific tax credits and are well-positioned to offer a full range of services to our tax credits clients.

Low-Income Housing Tax Credit Experience

Quarles & Brady has worked on hundreds of low-income housing tax credit transactions and has represented a variety of parties to these transactions, including equity investors (both corporate and fund investors), first mortgage lenders, equity investors who were also first mortgage lenders, and developers—both for- and not-for-profit. The firm has participated in state and national trade and bar associations that are involved in the development of affordable housing in general and the low-income housing tax credit in particular, including the American Bar Association, the ABA Forum on Affordable Housing and Community Development, the American College of Real Estate Lawyers, and the National Housing and Rehabilitation Association.

Quarles & Brady's Tax Credit Team works closely with our government-related finance group, which has assisted lenders and borrowers (both nonprofit and for‑profit), landlords and tenants, governmental agencies, and other attorneys in closing transactions involving HUD, the Wisconsin Housing and Economic Development Authority (WHEDA), Fannie Mae, and Freddie Mac, as well as transactions funded by other governmental entities, including municipalities. We have closed numerous transactions involving a variety of HUD programs, including Section 202, Section 221(d)(4), Section 232/223(f), and Section 8 housing assistance payments contracts.

New Markets Tax Credit Experience

Our team has been involved with new markets tax credits since the inception of the program and is experienced in dealing with all aspects of new markets tax credit transactions. Our attorneys have been aggressively involved in putting together myriad deals for our new markets tax credit clients, and we have represented a variety of parties to these transactions, including borrowers (QALICBs), developers, tax credit investors, leverage lenders, and community development entities (CDEs).

Other Tax Credit Experience

The team also has significant experience with other kinds of tax credits, including historic tax credits, film tax credits, and other state-specific tax credits.