Can my company benefit from the tax credits even though it is a nonprofit or does not have state income tax liability?
Yes. The state tax credits are transferable, so an employer can “sell” the credits to any individual or corporation with state tax liability to recoup a portion of its investment. The Metropolitan Planning Council, Housing Action Illinois, or REACH Illinois partner can assist you in identifying partners to transact that deal.
Related Questions
- Can my company benefit from the tax credits even though it is a nonprofit or does not have state income tax liability?
- How would my company benefit from having QC-MAC perform a Simulated HUD and State Licensing Agency Audit?
- Can my company receive state tax credits for the internal costs incurred to implement the program?
