Overview
The New Markets Tax Credit program encourages investment in
urban and rural low-income areas to help finance community
development projects, stimulate economic growth and create
jobs.
Private-sector investors receive credit against federal income
taxes. The program allows individual and corporate taxpayers to
receive a credit against federal income taxes for making qualified
equity investments in Community Development Entities, or CDEs.
Credits can be obtained every year the investment is held, for up
to seven years of the credit period.
Benefits
Equity investments in low- to moderate-income areas may qualify
for a 39% federal tax credit available through a special federal
allocation for the Louisiana Gulf Opportunity Zone.
Qualifying projects may leverage the federal program through an
additional 25% state tax credit (64% total credit).
May be used as equity for debt financing.
Eligibility
For eligibility information, visit Louisiana Department of
Revenue's website at www.revenue.louisiana.gov.
How to Apply
To apply for Louisiana New Markets Tax Credits for 2009,
taxpayers must submit a New Markets Tax Credit Application to
Louisiana Department of Revenue. The application is available on
the Department of Revenue's website as form R-10609.
All New Markets Tax Credit applications are to be submitted via
email to NewMarketTax.CreditApplication@la.gov.
Related Content
Administration
For New Markets Tax Credit application information, contact:
Louisiana Department of Revenue, Policy
Services Division
225.219.2780
For information regarding the New Markets Tax Credit
Program, contact the program administrator:
Mike Williams
225.342.5360
mwilliams@la.gov
