New markets tax credit handbook of north

New Markets Tax Credits (NMTC) are mentioned in several other blog posts, but normally as part of a list of various development financing tools. This is the first in a series of posts that seek to provide detailed information on the NMTC program and process. Background The New Markets Tax Credit Program (NMTC) encourages private capital investment in economically distressed communities by providing investors with a federal or state tax credit. Capital made available through NTMC programs is used to finance job-creating businesses located in underserved, low-income communities. The New Markets Tax Credit program turns federal tax credits into private investment in low-income communities. Contributing writer Mike Ross notes in this guest column that preference is given to The New Markets Tax Credit (NMTC) program stimulates local economies in low-income, distressed communities. A proven, cost-effective tool, the NMTC supports job creation and encourages small businesses to expand. The proposed North Carolina New Markets Tax Credit would offer a 25-percent state tax credit for private investments over seven years, so long as 75 percent of the investment is made in the economically disadvantaged Tier 1 and Tier 2 counties. Learn how the new markets tax credit (NMTC) can bring private capital to a qualified active low-income community business (QALICB). For a complete overview of the NMTC, order the Novogradac New NEW MARKETS TAX CREDIT PROGRAM SUMMARY . Introduction . The New Markets Tax Credits (NMTC) program was enacted in December 2000 to facilitate investments that generate employment and other community benefits for low-income persons and residents of low-income communities. It was created as part of the Community Renewal Tax Gain a better understanding of the New Markets Tax Credits and the opportunities that exist. This topic will provide you with an overview and analysis of the new markets tax credit program, as the industry awaits the announcem