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How long will the non-profit have to stay in business after the tax credits have been awarded?

April 26, 2017Business non-profit stay tax credits

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How long will the non-profit have to stay in business after the tax credits have been awarded?

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There is no limit on the length of time that a non-profit must remain in business, however, if the non-profit does not complete the funded housing related activity or if the non-profit fails to comply with any of the other terms of the community investment tax credit program, the non-profit will be deemed ineligible to participate in the community investment tax credit program for a period not to exceed 36 months.