Tax Credit Insurance
Tax Credit Insurance
Tax Credit Insurance may be used by a party to protect against a tax authority successfully challenging the validity or quantum of the tax credits generated in renewable energy projects or other types of tax credit programs such as historic rehabilitations, low-income housing and R&D. These products are designed to facilitate a more capital efficient financing structure for project developers by wrapping the tax risk for the tax equity investors.
The policy protects the insured against any tax loss (including associated interest, certain penalties and contest costs, as well as any necessary gross-up to cover tax on the receipt of any insurance proceeds).
The tax underwriting team is experienced and has extensive knowledge of the market across multiple jurisdictions. VALE’s is the market leader in underwriting renewable energy credit tax policies.
Prior to joining VALE, Peter was Counsel at a large international New York law firm. While in private practice, Peter focused primarily in the fields of taxation, closely-held businesses, and exempt organizations. Peter’s experience also includes general corporate and partnership transactions. Peter’s tax practice includes federal tax matters relating to entity selection, formation, transfer of ownership, and operational issues. He also specializes in the formation of off-shore investment vehicles designed to minimize exposure to U.S. taxation.
Peter received his B.A. in history and sociology from the University of Vermont and his J.D. from the George Washington University Law School.
Peter is a member of the bar in New York and Massachusetts and is admitted to appear before the U.S. Tax Court and several U.S. federal courts.
Willette Elder is the Senior Vice President of Tax at VALE New York City. She is a graduate of Howard University, The George Washington University Law School and Boston University School of Law, where she earned her Tax LL.M.
In over a decade as a tax attorney, Willette has led teams in due diligence, tax planning and tax structuring in the fields of corporate governance and transactions, international tax implications, exempt organizations, wealth succession and tax credits, among others. While practicing international tax and transactions at a Big 4 accounting firm, Willette primarily supported clients in the private equity community, and she participated in complex tax structuring for national and global M&A transactions, including two of the top media and technology mergers of all time.
At VALE, Willette supports the Tax Liability Insurance product, and her diverse tax experiences equip her to face various tax issues and solutions in a growing transactional liability market. When her creativity is not geared towards tax strategies, Willette focuses that energy on cooking, painting and pottery.