other · IRS · Rule · Published 2001-12-26 · Effective 2001-12-26 · 66 FR 66307
Document
Document number
01-31528
Federal Register citation
66 FR 66307
CFR reference
26 CFR 1
Type
Rule
Action
Temporary regulations.
Category
other
Sub-agency
IRS
Publication date
2001-12-26
Effective date
2001-12-26
Treasury docket
TD 8971
Abstract
This document contains temporary regulations that provide guidance for taxpayers claiming the new markets tax credit under section 45D. A taxpayer making a qualified equity investment in a qualified community development entity that has received a new markets tax credit allocation may claim a 5-percent tax credit with respect to the qualified equity investment on each of the first 3 credit allowance dates and a 6-percent tax credit with respect to the qualified equity investment on each of the remaining 4 credit allowance dates. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in REG-119436-01 published elsewhere in this issue of the Federal Register.