Book Description

Excerpt from Historic Preservation Incentives of the 1976 Tax Reform Act: An Economic Analysis This Technical Note analyzes the effect of the tra on the after-tax cost of two basic alternatives facing corporate owners of nonresidential historic buildings (1) rehabilitate the structure; or (2) demolish it and redevelop the site. The purpose of this report is to help corporate investors make cost-effective decisions regarding historic preservation of nonresidential buildings and to provide policy makers with information on the effectiveness of these tax incentives for historic preser vation. The analytical approach developed in this report could also be applied to incentives for other categories of building rehabilitation. The analysis is conducted from a life-cycle cost point of view so that all of the financial impacts of the tax provisions occurring over the lifetime of the structure can be taken into account. Thus, full consideration is given to the tax benefits occurring each year, as well as to the tax liabilities occurring when the property is sold. The annual tax benefits arise from deductions for depreciation or for the special 5-year rapid amortiza tion allowed by the tra. The tax liabilities arise both from capital gains and from the recapture as ordinary income of all or part of depreciation or amortization deductions. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.