Tax Credits
MetaFund can facilitate the Community Development Financial Institution (CDFI) Fund's New Markets Tax Credit (NMTC) program. As a brief overview:
NMTCs apply a 39% tax credit over a 7-year period to qualifying investments in a qualifying business (located in a low-income census tract). For more information regarding the NMTC Program, please visit the CDFI Fund's website: http://www.cdfifund.gov/what_we_do/programs_id.asp?programID=5.
Before the tax credits were placed under an indefinite moratorium, MetaFund also facilitated the Oklahoma Small Business Capital Formation Incentive Act tax credits. This program allowed for a 20% or 30% (for urban and rural projects, respectively) tax credit for investments in businesses of a qualifying nature.