February 11, 2013

New Markets Tax Credits Target Developments in Need

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 MiskovichRoger 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.

Read the article ”New Markets Tax Credits target developments in need”

How do New Market Tax Credits attract philanthropic investors?

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