Since the New Markets Tax Credit (NMTC) program became effective, Perkins Coie attorneys have worked to help shape NMTC regulations, policies and guidance and to structure transactions that advance our clients’ strategic, financial and community development goals.

Our lawyers submitted one of the earliest private letter ruling requests on NMTC issues to the IRS in 2002 and were successful in persuading the IRS to incorporate the requested determination into the newly promulgated NMTC Regulations. In representing some of the largest allocatees of NMTCs, our lawyers helped to develop and refine financing structures that are widely used today. Our attorneys continue to find innovative solutions to our clients’ needs while ensuring compliance with the increasingly complex federal and state NMTC requirements.

Our NMTC practice is integrated into our Financial Transactions and Federal Tax practices.

NMTC team members have the skill and experience to advise our clients not only as to NMTC matters but also as to the use of other tax credits, grants, incentives and subsidies and a wide variety of other financial and development tools and structures.

As part of a national law firm, the lawyers in our NMTC team also frequently work with colleagues in our Real Estate and Securities and Corporate Governance groups to address all of our clients’ needs.

The attorneys in our NMTC practice have represented allocatees, qualified active low-income community businesses, lenders and investors in transactions in which more than $1 billion in qualified equity investments have been made. We have assisted our clients in financing projects in low-income communities throughout the United States, from Maine and Florida to Alaska and Hawaii.