Sign Up For Novogradac Industry Alert Emails

California TCAC Issues Procedures Affecting 10 Percent Carryover Test

Tuesday, October 23, 2001 - 7:00AM

The California Tax Credit Allocation Committee last week issued new procedures affecting the 10 percent carryover test. Under the revision, applicants may be allowed to submit evidence that the test was met after year-end deadlines. However, even if applicants request the six-month extension, they must still submit an application, evidence of land purchase or lease, applicable exhibits and fee payment by November 1, 2001. To review the changes, click here.

Learn more about Novogradac's expertise and many services