Business and individuals may be able to reduce their federal and state tax burdens and while also supporting certain historic, cultural, and community-driven causes by purchasing tax credits.
Many states, as well as the federal government, provide tax credits for certain investments in historic rehabilitation projects, low-income housing, film production, and other activities that spur economic growth and innovation, expand employment, and support progressive initiatives. These credits can be purchased by taxpayers to reduce tax rates in 30+ states and through select federal programs.
Properly selecting credits to purchase or sell, as well as overseeing the transfers, can be a complex process that consumes time and resources without guidance from professionals versed in state tax credit nuances. Matching buyers to the right sellers unable to use credits in their business is also vital to create a foundation for success.