Asset Management

Tax Considerations in the Wake of Hurricane Sandy

, The Legal Intelligencer

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Hurricane Sandy, which struck the New York and Mid-Atlantic region on October 29 and 30, left a trail of destruction and dislocation. Numerous homes and businesses were either destroyed or severely damaged and the loss of electrical power and other infrastructure damage was widespread. This article examines the tax consequences of the physical losses sustained in the storm as well as the tax incentives and relief provisions available to those impacted by the storm.

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