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Massachusetts Supreme Judicial Court Issues a Win for Sullivan Client in State Tax Dispute

March 15, 2023

Via: JD Supra

On Friday, March 10, 2023, the Supreme Judicial Court (“SJC”) issued its decision in James J. Reagan, Jr. v. Commissioner of Revenue, finding that capital gains arising from the sale of urban redevelopment projects organized and operated under G.L. c. 121A are exempt from Massachusetts taxation. The decision represents a big win for urban renewal and affordable housing efforts in the commonwealth, as well as an important check on the Massachusetts Commissioner of Revenue’s (“Commissioner”) attempts to chip away tax benefits afforded to taxpayers by statute (for more on this trend, see our alert about the SJC’s Decision in Oracle, USA Inc. v. Commissioner of Revenue, here).

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