Georgia Low Income Housing Tax Credits Summary
- Applicable against income taxes of any taxpayer and insurance gross premiums taxes.
- May offset 100% of taxpayer’s liability.
- Excess credits carry forward for three years.
- Credits can be purchased in one to five year increments – though one year purchases typically make the most sense.
- Great for corporations or individuals subject to the AMT or regular income tax.
- One-third of credits subject to recapture though that is not an issue because taxpayer is invested in a diversified portfolio of these credits.