The New Markets Tax Credit Program is a $91 billion federal program created in 2000 pursuant to Section 45(D) of the Internal Revenue Code to encourage investment in low-income communities. The NMTC Program provides a reduction of tax liability to expand the capacity of financial institutions to provide capital, credit and financial services in underserved markets. Additional tax savings are provided through passive losses generated by qualified equity investments made pursuant to the Program. Section 45(D) credits are a permanent reduction of current and future tax liability, not a deferral of tax liability. Contact James D Howard, Jr. at 602-759-5300 or jhoward@dudleyventures.com
