Business Tax Recovery Logo


Tax Credit Consulting: Minority Business Laramie WY

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.

H&R Block
(307) 532-5413
2109 MAIN ST
TORRINGTON, WY

Data Provided by:
H&R Block
(307) 362-6101
1461 DEWAR dr
ROCK SPRINGS, WY

Data Provided by:
H&R Block
(307) 684-5125
510 W LOTT ST STE A
BUFFALO, WY

Data Provided by:
Liberty Tax Service
(866) 871-1040
1001 S Douglas Hwy # 240
Gillette, WY

Data Provided by:
Liberty Tax Service
(866) 871-1040
324 E Washington Ave
Riverton, WY

Data Provided by:
H&R Block
(307) 877-5789
1100 PINE AveSTE 113
KEMMERER, WY

Data Provided by:
Liberty Tax Service
(866) 871-1040
1802 Dell Range Blvd
Cheyenne, WY

Data Provided by:
Liberty Tax Service
(866) 871-1040
944 E 2nd St
Casper, WY

Data Provided by:
Payless Tax & Business Solutions
(307) 655-5543
307 E 3rd Street
Sheridan, WY
Prices and/or Promotions
20% off Your First Tax Return

H&R Block
(307) 635-3657
800 S GREELEY hwy STE E
CHEYENNE, WY

Data Provided by:
Data Provided by:

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...

Click here to read the rest of this article from BusinessTaxRecovery.com