New York Legislation Would Make Barn HTCs Refundable for Certain Taxpayers

Wednesday, March 15, 2023 - 11:45AM

Taxpayers earning less than $60,000 in a taxable year and who also receive New York’s historic barn rehabilitation tax credit (HTC) would be eligible for refundable credits under legislation introduced in the state Senate. S.B. 3582 would allow taxpayers earning $60,000 or less to receive a credit or refund for the amount of the barn HTC and those earning more than $60,000 would be allowed to carry the credit forward if desired.

The 2023 Novogradac Historic Rehabilitation Handbook provides an overview of the HTC and delves into the intricacies of the incentive.

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