Supreme Court Denies Certiorari in ‘Historic Boardwalk' Tax Credit Case

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The U.S. Supreme Court denied certiorari May 28 to Historic Boardwalk Hall LLC, which had sought review of a decision by the U.S. Court of Appeals for the Third Circuit that an investor in a syndicated partnership that shared in federal historic rehabilitation tax credits was not a bona fide partner (Historic Boardwalk Hall LLC v. Commissioner, U.S., No. 12-901, cert. denied 5/28/13).
Jerry Breed, a partner at Bryan Cave LLP in Washington, told BNA May 28 that the denial of certiorari “was not a surprise to most people in the historic rehabilitation tax credit community.”