by adp | Dec 6, 2023 | FAQ - Historic Tax Credits
A 7 year tax exemption for residential or commercial contributing structures within a Local Historic District or Central Business District which have increased in Tax Assessed value by 20% for residential or 10% for commercial. The maximum tax exemption is not to...
by adp | Dec 6, 2023 | FAQ - Historic Tax Credits
The Mississippi Department of Archives and History is responsible for the administration of the program, which provides for a state income tax credit equal to 25% of the qualified expenses of rehabilitating historic structures used for residential or business...
by adp | Dec 13, 2023 | FAQ - Historic Tax Credits
To be eligible for the 20% rehabilitation tax credit, a project must also meet the following basic tax requirements of the Internal Revenue Code: – The building must be depreciable – commercial or rental. – The property must be placed in service (i.e.,...
by adp | Dec 13, 2023 | FAQ - Historic Tax Credits
The 10% tax credit is available for the rehabilitation of non-historic buildings that were built before 1936 and that will be used for income-producing purposes other than residential. – The property must be depreciable – commercial. – Rehabilitation must...
