Incentives Programs for Thayer County Businesses
Nebraska Affordable Housing Tax Credit
The Affordable Housing Tax Credit Act created a Nebraska state tax credit (AHTC) for developing affordable housing modeled after the federal low-income housing tax credit (LIHTC) provided in Section 42 of the Internal Revenue Code (IRC). The Nebraska Investment Finance Authority (NIFA) and the Nebraska Department of Revenue (DOR) are charged with allocating AHTCs and administering the AHTC Act.
The AHTC Act allows individuals, corporations, financial institutions, and insurance companies to claim nonrefundable tax credits. A qualified taxpayer may use the credits to offset income tax, the premium and related retaliatory tax imposed on insurance companies, and the franchise tax imposed on financial institutions.