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Can a business benefiting from Renewal Community tax credits transfer those credits to another business entity, i.e., a flow-through entity?

April 26, 2017benefiting Business Credits entity tax credits transfer

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Can a business benefiting from Renewal Community tax credits transfer those credits to another business entity, i.e., a flow-through entity?

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No. There is no provision in the Internal Revenue Code (IRC) that allows one entity to transfer an unused Renewal Community employment credit to another entity.