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Colorado PLR Clarifies that State LIHTC Partnership Rules Follow Federal Rules

Tuesday, January 21, 2020 - 10:15AM

A private letter ruling from the Colorado Department of Revenue concludes that state law follows federal law for partnerships formed for investment in federal and state low-income housing tax credit (LIHTC) developments. The ruling said that a partnership structured to allow the Class B member of the partnership to receive the LIHTCs is not limited concerning the number of additional members as long as they are admitted to the partnership before the end of the year in which that year’s credits vest.

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