rehabilitation tax credit

rehabilitation tax credit

Credits against income taxes for expenses associated with the renovation, restoration, or reconstruction of certain buildings.The credit is 10 percent of the expenses for buildings placed in service before 1936, and 20 percent for certified historic structures. For properties located in the GO-Zone (certain named states and counties suffering 2005 hurricane damage) the credit was increased to 13 and 26 percent, respectively, for expenses incurred after August 27, 2005, and before January 1, 2009.

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And with major incentives like the Historic Rehabilitation Tax Credit program to encourage more involvement, more and more people are lining up to bring new life to their streets.
Commissioner, the Internal Revenue Service has issued much-anticipated guidance meant to provide "predictability" to investors in historic rehabilitation tax credit projects in the form of Revenue Procedure 2014-12.
referred him to Maynard-based Epsilom Associates, which helped prepare an application for a Massachusetts Historic Rehabilitation tax credit.
released its historic rehabilitation tax credit insurance, a new coverage meant to protect owners and developers of commercial properties who qualify for federal rehabilitation tax credit against a financial loss if the property suffers significant damage from an insured event that results in a reduction in, or recapture of, the tax credit.
Increases the Rehabilitation Tax Credit to help restore commercial buildings; and
Have the limited partner claim the federal historic rehabilitation tax credit, which is currently 20 percent of qualified rehabilitation expenditures.
The federal government already permits a rehabilitation tax credit and favorable depreciation schedules for owners and some lessees of commercial properties.
Financing rehab projects with the rehabilitation tax credit
By complying with historic preservation guidelines and helping The Lafayette Hotel become the first Energy Star historic hotel in the region, the ClearEdge system also served as one of the supporting measure for the hotel's application for the New Market Tax Credit and Historic Rehabilitation Tax Credit programs that partially financed the renovation project.
In 2009, the HPPA helped secure the Historic Rehabilitation Tax Credit and incentive program of which most of the South Main projects took advantage.
Some of these incentives are in the form of nonrefundable tax credits, including the brownfields tax credit, the motion picture tax credit (partially refundable), the historic rehabilitation tax credit, the low-income housing tax credit, and the medical device tax credit.

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