Raymond P. Reichert is a partner in the Firm's Tax practice group. He has devoted substantially his entire career to the practice of tax law, including federal and New York income tax, New York sales and use tax, and other miscellaneous taxes. From 1990 to 1992, he held the position of Adjunct Assistant Professor of Law at the State University of New York at Buffalo School, where he taught the basic federal income tax course, and currently teaches the partnership tax course. He has lectured on numerous occasions on a variety of tax related subjects. In addition to general transactional tax planning, his practice includes structuring real estate joint ventures, low income housing and historic tax credit partnerships, and economic development planning.
Fordham University (B.A., magna cum laude, in cursu honorum, 1976); State University of New York at Buffalo (J.D., cum laude, 1979)
1980 New York State Bar; 1981 New York and U.S. District Court, Western District of New York; 1981 U.S. Tax Court
Principal Area(s) of Practice:
Taxation (Federal and State); Partnership Taxation; Real Estate Investment Trusts; Mergers and Acquisitions; Low Income Housing and Historic Tax Credits
Adjunct Assistant Professor of Law, State University of New York at Buffalo School of Law (1990-92, 1999-2001, 2004-present)
Lecturer on Partnership Tax, State University of New York at Buffalo School of Management (1994-2003)
Lecturer, 1995 Annual meeting of the American Bar Association, Subcommittee on Environmental Taxes
Presenter, Upstate Affordable Housing Conference, "Brownfield Redevelopment Tax Credits"
Presenter, The New Medicare Tax: Why You Should Care
Memberships & Offices:
Erie County Bar Association (Past Chair, Tax Committee)
New York State Bar Association (Member, Tax Committee)
American Bar Association (Member, Tax Committee)
Director, Oncologic Foundation of Buffalo, Inc.
Past-President and Director, Legal Aid Bureau of Buffalo, Inc.
Past Director, Western New York Independent Living, Inc.
Vice-President & Director, University Heights Collaborative, Inc.
Director and President, St. Joseph Neighborhood Housing Initiative, Inc.
Awards & Recognition:
Listed, Best Lawyers in America
Listed, New York Super Lawyers
Listed, "Who's Who in Law," Published by Business First of Buffalo
START-UP NY Emergency Regulations Published and Approved Tax-Free Areas Announced
Nov-22-2013 — On November 14, 2013, the Department of Economic Development published emergency and proposed regulations in the New York State Register for the implementation of The SUNY Tax-Free Areas to Revitalize and Transform Upstate New York program ("START-UP NY").
Leveraging START-UP NY: Tax Benefits Available 2014
Nov-14-2013 — On October 22, 2013, the New York State Department of Taxation and Finance published a memorandum detailing the benefits of The SUNY Tax-Free Areas to Revitalize and Transform Upstate New York program ("START-UP NY"), which was formally launched by Governor Cuomo that same day.
NYS Court Of Appeals Strikes Down Retroactive Application Of 2009 Amendments To The Empire Zones Program
Jun-10-2013 — In a June 4th decision, the New York State Court of Appeals concluded, 5-1, that the retroactive application of the 2009 Amendments to the Empire Zones Program violated plaintiffs' due process rights and held that the 2009 Amendments could not be applied retroactively. As a result of the ruling, businesses decertified under the 2009 Amendments may be able to claim lost benefits.
New York Attorney General Unveils Comprehensive Not-For-Profit and Executive Compensation Reform
May-20-2013 — The New York Attorney General, through bipartisan collaboration with members of both the Senate and Assembly, has proposed broad changes to the New York Not-For-Profit Corporation Law and Estates, Powers, and Trusts Law. These long-awaited proposals seek to increase transparency and accountability in not-for-profit corporations by strengthening the required governance and oversight procedures, reducing delays for certain corporate changes, and ensuring fair and reasonable executive compensation.
Budget Proposed by NYS Governor Cuomo Provides For New Spending, No New Taxes or Fees
Jan-30-2013 — On January 22, 2013, Governor Andrew Cuomo proposed a New York State budget for the 2013-2014 fiscal year. Although the Executive Budget (the "Budget") proposes a 1.9% increase in spending ($2.5 billion), there are no new taxes or fees. Instead, the tax implications of the Budget include a number of expanded tax credits and exemptions as well as revenue extenders, five enforcement actions along with other revenue actions, a technical correction, and the closing of two loopholes.
Taxpayers smell change in the air for 2013 - Raymond Reichert serves as guest author for the Buffalo Law Journal
Dec-05-2012 — With the election behind us, little clarity has been provided in terms of what is ahead from a tax perspective for 2013 and beyond. There are new taxes and the likely increase of certain categories of old taxes. First, the taxes we know are coming:
Warning: New Taxes for 2013
Nov-05-2012 — A new Medicare tax on investment and other passive income will come into effect beginning on January 1, 2013. The tax will apply to the net investment income of both individual taxpayers and trusts and estates at a rate of 3.8%. The weight of this tax will fall heavily on investors and small business owners, especially those with non-working family members or family trusts as part owners.
Up to $750 Million Available Through Second Regional Economic Development Council Competition
May-07-2012 — Governor Cuomo has announced that up to $750 million in state funding and tax incentives will be awarded through the second round of the Regional Economic Development Council competition. The funding for the second round includes $220 million to implement regional strategic plans and support priority projects ($150 million in capital and $70 million in tax credits) and up to $530 million from the various other state agency programs funded through the Consolidated Funding Application ("CFA").
New York Takes Aim At Nonprofit Executive Compensation
Mar-12-2012 — Recently, New York Governor Andrew Cuomo and Attorney General Eric Schneiderman have separately announced proposals that may significantly impact executive compensation practices of New York nonprofits. Other important changes, intended to improve nonprofits' governance practices and reduce regulatory and cash flow burdens, have also been proposed.
The U.S. Treasury announces the award of $3.5 billion in New Markets Tax Credits (NMTCs)
Mar-05-2012 — The U.S. Treasury announced the award of $3.5 billion in New Markets Tax Credits (NMTCs) to financial institutions across the country. Under the NMTC Program, it is possible for a project to obtain a loan at a below market rate of interest, or to obtain the equivalent of an equity subsidy of approximately 15%-20% of total project cost.
Desperate for Dollars - New York State Announces Taxpayer Amnesty Program
Feb-10-2010 — New York's annual multi-billion dollar tax gap - the difference between taxes owed and taxes collected - has led the State to increase enforcement and encourage payment and compliance through its tax incentive programs. The Penalty and Interest Discount Program ("PAID") and the Voluntary Disclosure and Compliance Program are currently available for delinquent taxpayers, but time is of the essence with PAID.
Twenty-Two Jaeckle Fleischmann Attorneys Named "Super Lawyers"
Aug-16-2013 — Jaeckle Fleischmann announces that twenty-two of the Firm's attorneys have been named to the Super Lawyers list for 2013. Published annually by Thomson Reuters, Super Lawyers is a rating service of attorneys from more than 70 practice areas
Twenty-Six Jaeckle Attorneys Named As "Best Lawyers In America" By Peer Review
Aug-15-2013 — Jaeckle Fleischmann announces that 26 lawyers from the Firm were recently selected by their peers for inclusion in The Best Lawyers in America® 2014 (Copyright 2013 by Woodward/White, Inc., of Aiken, SC).
Three Jaeckle Fleischmann Partners to Present at Tax Institute
Nov-01-2010 — Three Jaeckle Fleischmann Partners to Present at Tax Institute BUFFALO, NEW YORK — Jaeckle Fleischmann & Mugel, LLP, a full service corporate law firm announces that Patrick L. Emmerling, Raymond P. Reichert and Nicole R. Tzetzo will serve as presenters at the 57th anniversary of the Institute on Taxation, offered by the University at Buffalo School of Management on November 2 and 3, 2010.