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How New Market Tax Credits Work

By MarksNelson on October 13, 2016 in MarksNelson in the News, Michael Marsh CPA

Kansas City Business Journal, How New Market Tax Credits Work, October 13, 2016

Life is returning to severely distressed neighborhoods around Kansas City and beyond.

Grocery stores are opening in areas once labeled “food deserts”. Childcare and healthcare facilities are now available to serve residents and manufacturing ventures are up and running in once vacant buildings.

There is still a long way to go, but this urban revival is due in part to New Market Tax Credits. In some cases, NMTC is the only tool available to generate investments in neglected and underserved communities. The federal program which began in 2000, is so popular, the current demand for credits is outpacing the incentives available.

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MarksNelson LLC works with clients to help safeguard and grow their businesses. Our ultimate goal is to help our clients to Move Forward. The firm provides Assurance, Accounting Services and Business Advisory, Business Valuation, Consulting, Cost Segregation, Employee Benefit Plan Audits, Litigation Support, Forensic Accounting, International Tax, State and Local Tax and Tax planning, advisory and compliance services. MarksNelson is a member of The Leading Edge Alliance, the second-largest international professional association of independently owned accounting and consulting firms, serving clients who need additional resources on a national or international level. MarksNelson has significant accounting and business advisory experience in the auto dealership, construction, insurance, manufacturing, distribution and real estate sectors. The firm was named among the 2014 Best Accounting Firms for Leadership Equity by the 2014 Accounting MOVE Project for its dedication to gender equity.