The Internal Revenue Service recently released Revenue Procedure 2016-55, which detailed, amongst other things, the 2017 inflation-adjusted low-income housing tax credit (“LIHTC”) ceiling that will be allocated to states. A particular state’s LIHTC ceiling in 2017 will be the greater of $2.35 multiplied by the state’s population or $2,710,000. While this increases the minimum allocation, up from $2,690,000 previously, it will not affect most states, such as Missouri which had a population of 6,083,672 in 2016.
For more information on 2017 LIHTC Allocations you may contact Brian Beck at (314) 726-6868.