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New Markets Development Program Tax Credit

During the 2014 Legislative Session, HB 445 was signed into law by the governor.  This bill included provisions that increased the credit cap for the New Markets Development Program Tax  Credit from $5 million to $10 million.  The bill also added a refundable performance fee that would be required when a New Markets Development Program Tax Credit application is submitted.  The Department anticipates accepting applications for the credit beginning July 15, 2014. 

To ensure prompt and proper processing, it is suggested that the following address be used to submit New Markets Tax Credit applications:
 
Department of Revenue
Division of Corporation Tax
Station 52
501 High Street
Frankfort, KY 40601-2103
Attention:  Regina Ritchey

Available Forms

8874(K) - Application for Certification of Qualified Equity Investments Eligible for Kentucky New Markets Development Program Tax Credit - Form 41A720-S80 [PDF 136K]   Revised on 6-11-2014

8874(K)-A - Notice of Kentucky New Markets Development Program Tax Credit and Certification - Form 41A720-S81 [PDF 93K]  Revised on 6-11-2014

8874(K)-B - Notice of Kentucky New Markets Development Program Tax Credit Recapture - Form 41A720-S82 [PDF 93K]  Revised on 6-11-2014

 

Last Updated 6/27/2014
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