IRS RELEASES 2011 CALENDAR YEAR RESIDENT POPULATION ESTIMATES

Friday, March 4, 2011 - 8:00AM

The Internal Revenue Service (IRS) today released its 2011 Calendar Year Resident Population Estimates. These figures are used to determine states' low-income housing tax credit (LIHTC) ceilings and tax-exempt private activity bond caps in 2011. Each state's LIHTC ceiling in 2011 is equal to the greater of $2.15 multiplied by the state population or $2,465,000; a state's tax-exempt bond volume cap will be the greater of $95 multiplied by the state population or $277,820,000. Notice 2011-15 includes the population estimates for each state, territory and insular area.

Tune in to the Tax Credit Tuesday Podcast on March 8 to hear Michael J. Novogradac, CPA, discuss which states’ populations increased, which declined, and what it all means for LIHTC practitioners.

Learn more about Novogradac's expertise and many services