Thomas Morton, a Pillsbury Tax partner based in Washington, DC, focuses his practice on federal income tax credits, tax-advantaged investments and partnership transactions.

Tom represents corporate investors, financial institutions, developers and syndicators in projects and transactions throughout the U.S. that qualify for low-income housing, historic rehabilitation, energy investment, energy production and new markets tax credits. He provides federal income tax and financing advice, and structures projects that combine various types of credit programs. Tom is also experienced in advising large corporations, airlines and financial institutions on leveraged, operating and synthetic lease transactions involving aircraft, railcars, computer systems and other equipment.

Representative Experience

Advised equity investors in several $100 million – $200 million Low-Income Housing Tax Credit (LIHTC) portfolio investments that featured minimum yield and/or tax benefit protection structured to satisfy post-Historic Boardwalk concerns.


Represented developer of utility-scale solar generating facilities in Puerto Rico in obtaining favorable private letter rulings involving availability of the Modified Accelerated Cost Recovery System (MACRS) depreciation to a U.S. LLC owner.


Counseled syndicators of LIHTC equity funds regarding fund structuring, acquiring lower-tier project entity interests, negotiating fund investment documents with equity investors, and providing related legal and tax opinions.

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  • Served as a mediator in resolving disputes between developers and equity investors in LIHTC projects relating to post-recapture period buyout rights.

Professional Highlights

Panelist, “Year 15: Negotiating with Your Investor,” Novogradac Affordable Housing Tax Credit Conference in New Orleans, Sept. 29, 2016.


Co-Presenter, “Advanced Tax Issues,” Novogradac Affordable Housing Conference in San Francisco, May 7, 2015.


Member of the Advisory Board of The Journal of Tax Credits.

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Associations

  • District of Columbia Bar Association, Section on Taxation

Education

  • LL.M., Taxation, New York University, 1989

    J.D., Cornell Law School, 1984
    Order of the Coif, Law Review

    B.S., Manhattan College, 1981
    summa cum laude

Admissions

  • District of Columbia

    New York