other · IRS · Rule · Published 2004-12-28 · Effective 2004-12-22 · 69 FR 77625
Document
Document number
04-28325
Federal Register citation
69 FR 77625
CFR reference
26 CFR 1
Type
Rule
Action
Final regulations.
Category
other
Sub-agency
IRS
Publication date
2004-12-28
Effective date
2004-12-22
Treasury docket
TD 9171
Abstract
These regulations finalize the rules relating to the new markets tax credit under section 45D and replace the temporary regulations which expire on December 23, 2004. 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.