Marie K. McConnell

Marie K. McConnell

Shareholder

Commercial Real Estate • Corporate Governance and Business Law • Business Reorganization and Entity Restructuring • Nonprofit Organizations, Affiliations and Exemptions • Tax Assessment Appeals & Property Tax Exemptions • Taxation • Mergers & Acquisitions

Marie K. McConnell
Jul. 6, 2017

Pennsylvania Supreme Court Ruling May Limit Taxing Authorities’ Ability to Appeal Assessments

On July 5, 2017, the Pennsylvania Supreme Court called into question a school district’s ability to initiate tax assessment appeals. In its decision in Valley Forge Towers Apartments N, LP v. Upper Merion Area Sch. Dist., No. 49 MAP 2016 (Pa. July 5, 2017), the Court addressed the question of whether a taxing authority may […]

Marie K. McConnell
Apr. 24, 2017

2017 Pennsylvania Tax Amnesty Program Begins

The Pennsylvania Department of Revenue is offering a 60-day amnesty program from April 21, 2017 to June 19, 2017. The Department will waive all penalties and half of the interest for eligible individuals and entities that participate in the tax amnesty program. Eligible periods for tax amnesty are those where a delinquency exists as of […]

Marie K. McConnell
Apr. 5, 2016

Charter School 101

Despite over 6,700 charter schools across the U.S. and almost daily news reporting, many people still do not have a clear understanding of them.

Marie K. McConnell
Dec. 28, 2015

Nonprofit Hospital Loses Property Tax Exemption

The New Jersey Tax Court revoked Morristown Medical Center’s property tax exemption in June, triggering $2.5M-$3M in annual taxes going forward.

Marie K. McConnell
Feb. 5, 2015

Nonprofits and a Potential Constitutional Amendment in PA

The Pennsylvania Senate Finance Committee held a public hearing on February 4 to discuss Senate Bill 4. SB 4 proposes a Constitutional amendment that would confirm the legislature’s control over deciding standards for which nonprofit organizations are exempt from property taxes. This legislation came about following the 2012 Pennsylvania Supreme Court decision denying property tax […]

Marie K. McConnell
Jan. 14, 2015

PA Department of Revenue Clarifies Realty Transfer Tax Changes

Pennsylvania imposes realty transfer tax not only on transfers of real estate, but also upon transfers of 90 percent or more of the interests in a “real estate company” within a three-year period. In 2014, the PA Department of Revenue made significant changes to the realty transfer tax rules with respect to real estate companies. Specifically, […]

Marie K. McConnell
Sep. 9, 2014

IRS: New Form 1023-EZ Simplifies 501(c)(3) Tax Exemption Process

If you have looked into securing 501(c) tax exempt status for your nonprofit organization, you know that the process with the IRS can be frustrating, lengthy and expensive. IRS Form 1023, “Application for Recognition of Tax Exemption” is 26 pages of checklists, worksheets and tables presented with all the usual IRS style and wit that one would expect.

Marie K. McConnell
Aug. 1, 2012

Recharacterization of Shareholder Loans

Shareholders, directors and officers should exercise caution when making loans from themselves to an affiliated company, including interest-only loans. These loans may be subject to recharacterization by the Internal Revenue Service as preferred stock, a capital contribution or a disguised gift to the other shareholders (if the other shareholders are family members).  Recharacterization as preferred […]

Marie K. McConnell
Mar. 1, 2012

Lehigh County Reassessment Update

If you own property in Lehigh County, you received a Preliminary Notice of Property Assessment this week. Each Notice includes the property’s current assessed value and proposed 2013 assessed value. In nearly every case, the proposed 2013 assessed value is higher (because the prior assessment reflected 1991 values). This does not necessarily mean that your […]