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Nevada’s State-Level NMTC Applications Open July 1

Friday, June 7, 2024 - 10:32AM

Nevada will accept applications for the 2023 allocation of tax credits as part of the Nevada New Markets Jobs Act (Nevada NMJA) as of July 1. The director’s office of the Nevada Department of Business and Industry made the application form available on its website today. The Nevada NMJA functions as a state-level new markets tax credit (NMTC). Nevada lawmakers in 2023 approved an additional $200 million for qualified equity investments (QEIs) and impact QEIs (manufacturing, retail trade or minority-owned investments requiring smaller amounts of capital) in 2024 and 2025 on top of $200 million authorized for state-level QEIs in 2019.

For more information about federal and state-level NMTCs, contact a Novogradac professional.

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