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Tax Credit Consulting: Minority Business Fargo ND

Federal and State Governments have a long history of using tax credits to advance social programs that are deemed to be in the public interest. Today, two areas that are getting much attention are the Green or environmental movement and minority business ownership.

Liberty Tax Service
(866) 871-1040
3005 13th Ave S
Fargo, ND

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H&R Block Inside Times Square West
(701) 282-4570
5050 13TH AVE S
FARGO, ND

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Liberty Tax Service
(866) 871-1040
312 University Dr N
Fargo, ND

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Liberty Tax Service
(866) 871-1040
500 W Main St
Mandan, ND

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Liberty Tax Service
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720 S Washington St
Grand Forks, ND

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H&R Block
(701) 241-7628
1531 S UNIVERSITY dr
FARGO, ND

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Accounting 4 Success
(701) 371-0419
3320 Westrac Drive
Fargo, ND
 
Liberty Tax Service
(866) 871-1040
113 Main Ave E
West Fargo, ND

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H&R Block
(701) 250-0960
2717 ROCK ISLAND PL
BISMARCK, ND

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Liberty Tax Service
(866) 871-1040
312 University Dr N
Fargo, ND

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Tax Credit Consulting: Minority Business

Tax Credit for Minority Business

Other one of the controversial tax credits out there is the tax credit for minority business. Tax credits for minority business come in a variety of forms from both the Federal and many State Governments.

Federal and State Governments have a long history of using tax credits to advance social programs that are deemed to be in the public interest. Today, two areas that are getting much attention are the Green or environmental movement and minority business ownership. The idea behind minority business tax credits is that minorities suffer unfair disadvantages in starting and operating business and doing so would help bring a more equal country.  The tax credit for minority business can be from the Federal or State Government and applies to either Federal or State taxes.

From the Federal Government, the New Market Tax Credit program has been expanded to include investments in minority business. This program, known as the NMTC, awards a credit spread over seven years that amounts to roughly 39% of the investment made in a qualified entity. The new minority provision opens up millions of dollars of investments for use in businesses run by minorities including women.

Many States have passed a tax credit for minority business also. The provisions and limitations of these credits vary from State to State. Many of them resemble the New Market Tax credit and give tax credits against State income tax to investments that are used to support minority building projects or encourage minority business ownership. As with the Federal programs, minority business can include a business owned by a female in some cases. The tax payer must examine the terms and conditions of the individual State programs if their State is one that offers a tax credit for minority business.

A tax credit for minority business is one of the more controversial tax credits in the eyes of some critics of the policy of using tax credits to address social issues...

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