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- Title
Why Does My Tax Lawyer Keep Saying We Need Nonrecourse Debt for My Low-Income Housing Tax Credit Project.
- Authors
Graff, Glenn A.
- Abstract
An essays which explores the interaction of the rules of low-income housing tax credits (LIHTCs) under Section 42 of the U.S. Internal Revenue Code of 1986 with the partnership taxation rules, is presented. Topics covered include treatment of nonrecourse debt, allocations of debt and minimum gain for LIHTC transactions and reasons behind the need to ensure that permanent debt is in nonrecourse transactions involving LIHTC.
- Subjects
UNITED States; TAX credits; LOW-income housing; TAXATION of business partnerships; NONRECOURSE debt; UNITED States. Internal Revenue Code; INTERNAL revenue law
- Publication
Journal of Affordable Housing & Community Development Law, 2019, Vol 27, Issue 2, p435
- ISSN
1084-2268
- Publication type
Article