New Markets Tax Credit Compliance Requires Expertise in Multiple Technical Areas

Organizations that have been fortunate enough to receive a New Markets Tax Credit (NMTC) award must now begin the meticulous, seven-year journey of meeting requirements for independent audits, regulatory compliance reporting, and tax return filings for newly created community development entities (CDEs). Likewise, NMTC investors and borrowers will often have to comply with operating agreements and loan covenants throughout the same seven-year period.