New Markets Tax Credit Basics Course

Friday, December 9, 2011
10:00 AM to 12:30 PM PST (1:00 PM to 3:30 PM EST)

Instructors

Brad Elphick, CPA Partner – Atlanta Office Novogradac & Company LLP

Wayne Michael, CPA Director of Education and Marketing Operations Novogradac & Company LLP

Q&A Moderator

Nicolo Pinoli Principal, Novogradac & Company LLP

Webinar Description

This webinar presents a basic overview of the new markets tax credit (NMTC) program and the unique parties and elements of NMTC deal structures.

Target Audience

The webinar is for anyone who is new to the NMTC arena or for those who’ve worked in the industry for a few years and want a refresher on how all of the pieces of the “big picture” work together.

View a Short Excerpt from the Presentation

Outline

• Overview of perceived risk and community investment
• Intro to Internal Revenue Code Section 45D
• The basic overview of an NMTC structure
• CDFI Fund, community development entities (CDEs), investors, qualified equity investments (QEIs), qualified active low-income community businesses (QALICBs), qualified low-income community investments (QLICIs), substantially all (sub-all) and low-income communities (LICs).
• The tax credit pool, application process and award process
• Claiming the tax credits
• Intro to the NMTC leveraged structure
• CDEs
• Service area(s)
• Governing and advisory boards
• QALICBs
• Qualified
• Active
• Low-Income Community
• Business
• QLICIs and the sub-all test
• Avoiding tax credit recapture
  

"A well organized presentation with excellent graphics. You took a very complicated program and made it reasonably intelligible and stimulated my interest in using NMTCs."
- Anonymous

How does this course differ from Novogradac & Company’s NMTC Basics workshops it conducts as part of its national conferences?

Much of the material will be the same. However, we note the following differences between the two:

If after (or instead of) viewing this webinar, you would like to register for the six-hour NMTC Basics workshop (or other NMTC workshops), please visit our Workshops and Webinars tab at the Novogradac Events Center.

View Entire Presentation in 45 Seconds

About the Instructors

Brad Elphick is a partner in the metro Atlanta, Ga. office of Novogradac & Company LLP. He has extensive experience in the low-income housing and new markets tax credit programs. Mr. Elphick specializes in developer consulting, with an emphasis in forecasting and partnership taxation. He also works extensively with real estate partnership audits, compliance audits, as well as the structuring of low-income housing and new markets tax credit applications. Mr. Elphick is also the founder of the NMTC Working Group, a membership organization that is highly regarded for the work it does addressing technical programmatic issues surrounding the NMTC industry.  He is a regular contributor to the firm’s New Markets Tax Credit Report, now part of the Novogradac Journal of Tax Credits, and is a frequent speaker at industry events. Mr. Elphick received a bachelor’s degree in business administration with an emphasis in finance from Emory University and a Master of Taxation from Georgia State University. He is licensed in Georgia as a certified public accountant.

Wayne Michael is the director of education and marketing operations for Novogradac & Company LLP.  He frequently teaches tax credit classes and workshops, simplifying the subject matter for audiences of varying levels of experience.  Mr. Michael holds a bachelor's degree in accounting from Brigham Young University and is licensed as a certified public accountant in California.

About the Q&A Moderator

Nicolo Pinoli is a principal in the Portland, Ore. office of Novogradac & Company LLP where he specializes in affordable housing and community development, including the low-income housing tax credit, new markets tax credit, historic rehabilitation tax credit and tax-exempt bond financed transactions. Mr. Pinoli has extensive experience in financial statement audits; tax return preparation; transaction underwriting; and consulting on transaction structuring, low-income housing tax credit and new markets tax credit compliance. He has published many articles on various technical issues confronting the affordable housing and community development industries. Mr. Pinoli received a bachelor’s degree in accounting and a Master of Accountancy in professional accounting from Brigham Young University and is licensed in California, Oregon and Washington as a certified public accountant.

System Requirements

Novogradac & Company LLP webinars are broadcast through WebEx. A broadband internet connection is required. For minimum system requirements, click here or go to https://www.webex.com/login/frequently-asked-questions#7.

Webinar Cancellations & Refunds

If you are unable to attend a webinar and would like a refund on your registration fees, you must submit a cancellation in writing at least 3 days prior to the event. Please submit cancellations to events@novoco.com. We regret that we cannot issue a refund to those who cancel after the log-in information has been distributed.

In the event of a major technological problem that prevents or interrupts our transmission of the webinar broadcast, such as a power outage at our broadcast site, we will either re-broadcast the webinar or issue registrants an event credit. Credits may be applied toward any Novogradac & Company LLP event and are valid for one year from the credit’s date of issuance.

Terms and Conditions

Except as explicitly stated in the program materials (if applicable), the webinar will not qualify attendees for any type of continuing education credit or certification issued by any organization.

As a condition of viewing the webinar, you must agree to the following terms and conditions (the “Terms”).  If you do not agree to the Terms, do not purchase this webinar.

Novogradac & Company LLP webinars are presented as general learning opportunities and are not a substitute for professional advice. You agree not to make business or financial decisions based solely on the webinar materials and you agree that we are not responsible for business or tax decisions made by webinar attendees based on the information provided by the instructors during the webinar. Each tax credit property has specific issues and circumstances associated with that property. Webinar attendees are strongly encouraged to consult their legal and/or tax advisors for advice specific to the attendee’s specific circumstances.