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State Tax Credits News Briefs - September 2016

The New York Department of Taxation and Finance issued a press release June 7 announcing the launch of its business incentives webpage. The webpage is described by the department as a place where new and existing business owners can learn about valuable tax credits that may be available. Sections of the new page include exemption and tax credit eligibility, development and expansion, farming and agriculture and job and manufacturing incentives. The URL is www.tax.ny.gov/bus/business-incentives.htm. 

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The Kentucky Department of Revenue issued emergency regulation 103 KAR 15:180E, effective July 13, concerning implementation of the state new markets development program credit. The regulation is designed to provide qualified community development entities (CDEs) with the procedures for applying for and administering the credit. CDEs began applying July 15 for the $5 million increase in the credit cap. The emergency regulation is available at www.revenue.ky.gov. A permanent regulation that is identical to the emergency regulation is pending.

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The Oregon Housing and Community Services Department announced in mid-July an amendment to regulation 813-110-0010. The regulation, concerning the state affordable housing tax credit, was amended to clarify the definition and the utilization requirements of the rent pass-through for the Oregon Affordable Housing Tax Credits program. The amendment was effective May 5.

Journal Category:

State Tax Credits

Authors:

Novogradac

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