State Historic Rehabilitation Tax Credits

Rehabilitating a historic building can make more economic sense than constructing a new facility. State historic rehabilitation tax credits—also known as historic tax credits—are usually a big part of the reason why; especially when those credits are transferrable.

By allowing developers, owners, and investors to offset their state tax liabilities, transferable historic tax credits can help generate significant influxes of cash to finance future investments—and create more opportunities for growth.

Our Services

We can help find a buyer for your state historic credits, allowing you to convert credits you can’t use into cash to reinvest in your business. We can also assist you with certifying your credits, navigating the transfer process and identifying other states with similar opportunities.

We’ve helped our clients transfer more than $800 million in credits, and have performed incentive compliance and audit services for eligible projects in excess of $3 billion of total project costs.

What You Should Know

As a developer, owner, or investor in projects eligible for transferable historic credits, recognizing and using the potential value of the credits can present certain challenges, including: 

  • Deciding to sell or use credits. The decision to keep or sell a credit will have a different financial impact on your bottom line and may influence your short- and long-range goals. 
  • Securing a buyer. In a market where direct access and transparency to buyers are still emerging, this process can often be time consuming. 
  • Understanding transferable value. It’s imperative to understand the relevant taxing regimes and tax offsets to avoid undervaluing or overvaluing your credit, which could cause you to lose money or delay a sale. 
  • Closing sales. An extended turnaround time on the sale of your credit can potentially delay your next project.
  • Navigating complex compliance requirements. Each state has its own administrative deadlines and regulations—often related to how, when, and to whom sellers can transfer their credits.

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