State tax credits are offered by individual states to offset an individual’s or business’s state tax liability. These credits award dollar-for-dollar reductions against, depending on the state, individual, trust and/or corporate income taxes, as well as insurance premium taxes and bank taxes. Any individual, corporation or business entity is eligible to invest in state tax credit incentives.
State governments offer tax credit programs to promote a particular industry and boost the statewide economy through offering tax liability mitigation. For instance, the Georgia film industry has thrived through the use of these programs, generating $9.5 billion in revenue in 2017. Similarly, the North Carolina renewable energy industry boomed, bringing in $6.4 billion in revenue in 2016. By investing in state tax credits, you and your business can too contribute to the economic growth and community improvement within your home state.
Monarch Private Capital offers state tax credits in a number of states and in a variety of fields, including affordable housing development, film and entertainment production, renewable energy projects, historic rehabilitation and mill redevelopment. In some cases, the provisions may match the corresponding federal tax credit programs; in some cases, they may not. The team at Monarch Private Capital is well-versed in our state tax credit offerings so they may help you find the most ideal investment opportunity in your state. In some circumstances, the purchaser may be required to invest in a partnership or LLC to acquire the particular tax credits.
Monarch Private Capital has syndicated or brokered tax credits in over 25 states.