Home | Site Map | Search | Contact    

Washington State Housing Finance Commission
Administration | Home Buyers | Multifamily Housing & Community Facilities | Asset Management & Compliance | Investors

Low-Income Housing Tax Credit
bullet Introductory Guide
bullet Policies (PDF)
bullet Information Resources
bullet Application Materials, Forms & Lists
bullet Allocation Lists
bullet Placed-In-Service
bullet Want more information?

Low-Income Housing Tax CreditIntroduction to Tax Credits

  • Introduction
  • Overview
  • Commission Basics
  • Resource List (PDF)
  • Frequently Asked Questions

This guide was created to provide a general overview of the tax credit program. The Guide is the Commission's interpretation of the requirements under Section 42 of the Code and subsequent amendments, as well as other conditions imposed on the program by the Commission. It is intended for use by those who have a limited knowledge of tax credits but may wish to use the program in the development of affordable housing for low-income tenants. As a general overview, the guide does not replace the complete rules and regulations of Section 42 of the Code or additional conditions the Commission has included in its Qualified Allocation Plan and Policies.

The tax credit program is complex with many technical rules governing a building's qualification for credit, the amount of the credit, and the ability of the owner to use the tax credit to offset federal income tax liability. If done incorrectly, fees can be forfeited, credits can be lost, and projects may fail. For these reasons, we recommend that potential applicants, lenders, and investors consult with their professional advisors: legal counsel, tax advisor, accountant, and financial advisor, before proceeding with an application.

10/30/2008

Washington State Housing Finance Commission | 1000 2nd Ave | Seattle, WA 98104
206.464.7139 | 800.767.4663 | WebMaster@wshfc.org
© 1998-2011 All Rights Reserved
      Washington State Housing Finance Commission — Home Page

ADMINISTRATION
Careers
Commissioners
Housing Washington
Meetings & Events
My View ED Newsletter
Publications

HOMEOWNERSHIP
Home Buyer Programs
Information for Lending & Real Estate Professionals

BOND FINANCING
Energy Programs
Farmer & Rancher
Multifamily Housing
Nonprofit Facilities
Washington Works 

TAX CREDIT
LIHTC
ARRA
Special Programs
Land Acquisition
Rapid Response

ASSET MANAGEMENT & COMPLIANCE
Compliance

INVESTORS
Official Statements & Annual Reports

 

  

© 2012 Washington State Housing Finance Commission