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On Friday, the IRS issued final regulations on how entities serving certain targeted populations can qualify as active low income community businesses for purposes of the Sec. 45D new markets tax credit (T.D. 9580)
The new markets tax credit encourages capital investment in economically depressed areas by private investors in exchange for federal income tax credits. A qualified low-income community investment includes an investment in a “qualified active low-income community business” (defined in SEC 45D (d)(2)).