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  • 2002 Form 8874. New Markets Credit - Irs

Get 2002 Form 8874. New Markets Credit - Irs

Er Name(s) shown on return Current Year Credit (a) Name and address of the qualified community development entity (CDE) (b) Employer identification number of CDE (c) Date of initial investment (d) Amount of qualified equity investment (e) Credit rate (f) Credit ((d) (e)) 1 5% 5% 5% 2 New markets credits from pass-through entities (if from more than one entity, see instructions): If you are a Then enter the total of the current year credits from a Shareholder Schedule K-1 (.

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NMTC loans have more favorable terms than traditional debt and are interest only for seven years. Principal payments on the NMTC loans are prohibited during the seven-year period. Moreover, a portion of the NMTC loan or loans received may be forgiven prior to any principal payment requirements begin.

Overview. The NMTC Program is intended for borrowers / projects that can demonstrate new, quality, permanent job creation for low-income communities throughout New York State, or otherwise provide goods and services that benefit low-income people and residents of those communities.

On the last day of its 2000 session, Congress created the New Markets Tax Credit program, part of the Community Renewal Tax Relief Act of 2000, to encourage investment in low-income communities. The program is designed to generate $15 billion in new private sector investments in low-income communities.

The New Markets Tax Credit Program (NMTC Program) helps economically distressed communities attract private capital by providing investors with a Federal tax credit. Investments made through the NMTC Program are used to finance businesses, breathing new life into neglected, underserved low-income communities.

The NMTC expires on December 31, 2025.

Factors such as the number of family members or the cost of living where a family lives adjust the cut-off point. A family of six earning $70,000 a year could be considered low-income, while a single person earning $30,000 may not.

Qualified Equity Investment (QEI): Any cash investment in a for-profit CDE that triggers the flow of New Markets Tax Credits benefits to the investor. The QEI must remain invested in the CDE for seven years to maintain program compliance.

The New Markets Tax Credit Program (NMTC Program) helps economically distressed communities attract private capital by providing investors with a Federal tax credit. Investments made through the NMTC Program are used to finance businesses, breathing new life into neglected, underserved low-income communities.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232