Nov. 18 Deadline for Three Key Components for CY 2021 NMTC Allocation Round

Wednesday, November 17, 2021 - 11:30am

The first deadlines for the calendar year 2021 (CY 2021) new markets tax credit (NMTC) allocation round are Thursday, Nov. 18, at 11:59 p.m. ET. In order to submit a NMTC allocation application, the applicant must be a certified community development entity (CDE).  If not already a certified CDE, the applicant must submit an application for certification as a CDE by the Thursday deadline. If an applicant that is already a certified CDE wishes to change its designated service area for the CY 2021 allocation round, requests to modify CDE certification service areas are also due Thursday. Any prior allocatee that needs to certify a subsidiary entity as a CDE in order to meet the QEI issuance requirements must submit a subsidiary CDE certification application by Thursday. All items must be submitted electronically via the Awards Management Information System (AMIS). The CY 2021 allocation round opened Nov. 4 and applications are due Jan. 13, 2022.

Novogradac’s New Markets Tax Credit team helps clients with their NMTC allocation applications in addition to navigating the underlying tax, structuring and business issues of the NMTC incentive.