Immediate compensation could be to allow "face value plus 5%" of the medallion to be used to pay any local/city taxes, with say 7 or 10 years given to use the credit.
The IRS rules http://www.irs.gov/publications/p535/ch08.html state you have to amortize/depreciate the license over 15 years (180 months). So, any licenses that are 16 or more years old, have already been written off in full, so, a lesser amount would be needed to compensate the owners.
The IRS rules http://www.irs.gov/publications/p535/ch08.html state you have to amortize/depreciate the license over 15 years (180 months). So, any licenses that are 16 or more years old, have already been written off in full, so, a lesser amount would be needed to compensate the owners.