NAP Tax Credits

Neighborhood Assistance Tax Credits – (NAP) Tax Credits

                         
The Neighborhood Assistance Program (NAP) is a tax credit program in Pennsylvania that encourages business to invest in projects which improve distressed areas or support neighborhood conservation.  In order to qualify, businesses must invest in affordable housing programs, community services, crime prevention, education, job training or neighborhood assistance.

                                                                             Tax Credits equals:  

     

·         55% of the project,

     

·         75% for businesses that commit to a 5 year project  

     

·         80% for projects of 6 years or longer.

    

·         The maximum allowable contribution for a project is $500,000.

    

·         The maximum allowable tax credit that a business can receive in a single year is $1,250,000.00.
 

                                                                       ·         A business must participate in at least 4 projects in order to be                                                                         eligible for the $1,250,000.

 

 
Selling the NAP Tax Credits

 

The NAP tax credits are transferable and can be sold after a 1 year waiting period.  A business can sell these tax credits once their tax return is filed for the tax year in which the credits were issued. 

 

 

Below is the link to the guidelines:

http://www.newpa.com/sites/default/files/uploads/NAP_Enterprise_Zone_Guidelines_2013F.pdf









 
 
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