Sign Up For Novogradac Industry Alert Emails

GAO RELEASES REPORT ON USE OF NMTC IN METRO & NON-METRO AREAS

Thursday, April 26, 2012 - 7:00AM

The Government Accountability Office (GAO) today released a report that addresses the use of new markets tax credits (NMTCs) in rural and urban areas. The GAO found that the NMTC program’s policies and procedures help ensure the proportionality of metropolitan and nonmetropolitan awards and allocations. From calendar years 2008 through 2011, recipients committed to deploy more than $3 billion, or 20 percent of total investments, in nonmetropolitan areas. In 2010, that increased to 21 percent.

Michael J. Novogradac, CPA, will discuss the report during the May 1 Tax Credit Tuesday podcast and the use of NMTCs in rural and urban areas are sure to be popular discussion topics at the Spring New Markets Tax Credit Conference, June 7-8 in Washington, D.C.

Learn more about Novogradac's expertise and many services