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New Markets Tax Credit

Author : Michael Brostek

Publisher : DIANE Publishing

Page : 63 pages

File Size : 45,10 MB

Release : 2010-08

Category : Business & Economics

ISBN : 1437928595

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Book Description

The Community Development Financial Institutions (CDFI) Fund awarded $26 billion in New Markets Tax Credits (NMTC) through 2009 for invest. in low-income communities. The NMTC allows investors to claim a tax credit totaling 39% of their invest. in Community Development Entities (CDE) over 7 years which CDEs reinvest in qualified communities. This report: (1) describes where and how CDEs are using NMTCs; (2) assesses how CDEs use NMTCs to offer favorable financing terms to low-income community bus. and describes options for simplifying the NMTC; (3) describes how NMTC invest. support low-income community development; and (4) determines how effective IRS and the CDFI Fund have been in monitoring NMTC compliance. Illustrations.



New Markets Tax Credit

Author : Michael Brostek

Publisher : DIANE Publishing

Page : 67 pages

File Size : 45,33 MB

Release : 2009-12

Category : Business & Economics

ISBN : 1437919316

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Book Description

The Community Develop. Financial Institutions (CDFI) Fund has awarded $19 bill. in New Markets Tax Credits (NMTC) to encourage invest. in low-income communities. The NMTC allows investors to claim a tax credit in exchange for investing in Community Development Entities (CDE) that reinvest the funds in qualified communities. This report: (1) identifies the number of minority and non-minority CDEs that have applied to the CDFI Fund and received NMTC awards; (2) explains the process by which the CDFI Fund makes NMTC awards; (3) describes challenges that minority and non-minority CDEs face in receiving NMTC awards; and (4) identifies efforts the CDFI Fund are taking to assist minority CDEs in applying for NMTC awards. Illus.



New Markets Tax Credit

Author : U.s. Government Accountability Office

Publisher :

Page : 64 pages

File Size : 10,55 MB

Release : 2017-08-15

Category :

ISBN : 9781974550548

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Book Description

"The Treasury Department's Community Development Financial Institutions (CDFI) Fund awarded $26 billion in New Markets Tax Credits (NMTC) through 2009 for investment in low-income communities. The NMTC allows investors to claim a tax credit totaling 39 percent of their investment in Community Development Entities (CDE) over 7 years which CDEs reinvest in qualified communities.This mandated report (1) describes where and how CDEs are using NMTCs, (2) assesses how CDEs use NMTCs to offer favorable financing terms to low-income community businesses and describes options for simplifying the NMTC, (3) describes how, if at all, NMTC investments support low-income community development, and (4) determines how effective IRS and the CDFI Fund have been in monitoring NMTC compliance. GAO analyzed CDFI Fund and CDE data, didcase studies of CDEs, and interviewed relevant experts. "



New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities

Author : Michael Brostek

Publisher : DIANE Publishing

Page : 15 pages

File Size : 41,63 MB

Release : 2009-12

Category : Business & Economics

ISBN : 1437918255

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Book Description

The Community Development Financial Institutions (CDFI) Fund has awarded $21 billion of the $26 billion in New Markets Tax Credits (NMTC) to Community Development Entities (CDE) between 2001 and 2009. CDEs use the NMTC to make qualified investments in low-income communities. This testimony: (1) identifies the number of minority and non-minority CDEs that applied to the CDFI Fund and received NMTC awards; (2) explains the process by which the CDFI Fund makes awards and summarizes application scores; (3) describes challenges minority and non-minority CDEs face in applying for and receiving awards and; (4) identifies efforts the CDFI Fund and others have taken to assist minority CDEs in applying for awards. Tables.



The New Markets Tax Credit

Author : Marlin Barrett

Publisher : Nova Science Publishers

Page : 0 pages

File Size : 37,19 MB

Release : 2014

Category : Capital investments

ISBN : 9781634636445

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Book Description

The New Markets Tax Credit (NMTC) is a non-refundable tax credit intended to encourage private capital investment in eligible, impoverished, low-income communities. NMTCs are allocated by the Community Development Financial Institutions Fund (CDFI), a bureau within the United States Department of the Treasury, under a competitive application process. Investors who make qualified equity investments reduce their federal income tax liability by claiming the credit. This book describes the New Markets Tax Credit Program and the major considerations banks may need to address when using the tax credits to support community and economic development activities. The book examines the primary opportunities and risks associated with the use of NMTCs and discusses the methods used by national banks and federal savings associations (collectively, banks) to structure transactions and use the credits effectively.



New Markets Tax Credit

Author : United States Government Accountability Office

Publisher : Createspace Independent Publishing Platform

Page : 68 pages

File Size : 47,27 MB

Release : 2018-02-02

Category :

ISBN : 9781983941047

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Book Description

New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entitities



Beginner's Guide to the New Markets Tax Credit

Author : Debbie Kleban

Publisher : American Bar Association

Page : 0 pages

File Size : 12,10 MB

Release : 2014

Category : Community development

ISBN : 9781627226509

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Book Description

This guide, intended to introduce practitioners to the new markets tax credit, is divided into distinct sections, starting with a general overview of the credit, its purpose and impacts.



Low-income Housing Tax Credit Handbook

Author :

Publisher :

Page : 0 pages

File Size : 48,90 MB

Release : 2022

Category : Public housing

ISBN : 9781731929877

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Book Description

"'Low-Income Housing Tax Credit Handbook' provides definitive guidance through the complex body of laws, regulations, and judicial decisions concerning the low-income housing credit (LIHC)"--



Tax Policy

Author : United States Government Accountability Office

Publisher : Createspace Independent Publishing Platform

Page : 86 pages

File Size : 39,69 MB

Release : 2017-09-15

Category :

ISBN : 9781976382567

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Book Description

The Community Renewal Tax Relief Act of 2000 authorized up to $15 billion of allocation authority under the New Markets Tax Credit (NMTC) to stimulate investment in low-income communities. The act mandated that GAO report on the program to Congress by January 31, 2004, 2007, and 2010. Two subsequent laws authorized an additional $1 billion in NMTC authority for certain qualified investments and extended the program for 1 year with an additional $3.5 billion of authority. This report (1) describes the status of the NMTC program, (2) profiles NMTC program participants, (3) assesses the credit's effectiveness in attracting investment by participating investors, and (4) assesses IRS and the Community Development Financial Institutions (CDFI) Fund compliance monitoring efforts. To conduct the analysis, GAO surveyed NMTC investors, conducted statistical analysis, and interviewed IRS and CDFI Fund officials.



New Markets Tax Credits

Author : John Rappa

Publisher :

Page : pages

File Size : 39,14 MB

Release : 2007

Category : Capital investments

ISBN :

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Book Description

Describes the federal New Markets Tax Credit (NMTC) Program and determine how the state could participate in it.