Novogradac Introduction to Historic Tax Credits

Third Edition
booklet htc intro

The Introduction to Historic Tax Credits is a 46-page introduction to the basics of the Historic Tax Credit (HTC) program. The third edition of this resource has been expanded to include discussion of safe harbor guidance under Internal Revenue Service Revenue Procedure 2014-12. The Introduction to Historic Tax Credits discusses both the 10 percent and 20 percent credits. Topics covered in the booklet include the tax credit’s history and development; qualifying buildings and renovations; capital generated from the credits; HTC transaction structures; the application process; credit recapture; combining the federal HTC with state HTCs and combining HTCs with new markets tax credits (NMTCs) and low-income housing tax credits (LIHTCs). The booklet includes the most up-to-date program information, including recent legislative changes affecting the HTC. The booklet also provides a glossary of common terms associated with HTC transactions. The Introduction to Historic Tax Credits is a must have for anyone interested in learning about the HTC program.