New Markets Tax Credits Target Developments in Need
February 11, 2013
Vermont Business Magazine
The New Markets Tax Credits were recently re-authorized by Congress in the “Fiscal Cliff” settlement at the end of 2012. The tax credits allow investors – an individual but more likely a financial institution – to reap a 39 percent tax credit spread over seven years.
Downs Rachlin Martin attorneys Craig Miskovich, Roger Prescott and Dale Rocheleau discussed the complexities of several recent projects ranging in size from a $3 million deal with Laraway Youth and Family Services in Johnson, to the $40 million expansion of the EHV Weidmann manufacturing plant in St Johnsbury.