June 7, 2022: Why QALICBs, CDEs Should Consider Qualifying for Targeted Populations

Published by Michael Novogradac on Tuesday, June 7, 2022 - 2:00pm

The vast majority of business and nonprofits that receive new markets tax credit (NMTC) financing serve low-income communities that are physically located in a low-income census tract. However, there’s another underutilized method for businesses and nonprofits to qualify for NMTC financing that is not geography based. It’s called the targeted populations approach. Michael Novogradac, CPA, and Novogradac partner Bryan Hung, CPA, discuss the potential benefits of the targeted populations method, how to meet the targeted populations criteria, compliance considerations and more.