The Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure that taxpayers who claim certain deductions and credits still pay a minimum amount of tax.
Low-income housing that meets specific criteria and regulations, making it eligible for special tax credits. Stringent guidelines govern tenant qualification, certification, and project financing to ensure compliance with federal and state laws.
A Low-Income Housing Limited Partnership (LIHLP) is a partnership formed to fund and manage housing for low-income tenants. It offers investors potential returns primarily through tax deductions and credits rather than significant annual cash distributions.
