State Offering Tax Credit For Historic Structures
HARRISBURG PA – Individuals and businesses are encouraged to apply for a new state program that offers tax credits to restore historic structures and transform them into income-producing properties, state Rep. Mark Painter said Tuesday (April 22, 2014).
The Pennsylvania Historic Preservation Tax Credit Program, which will be funded through the Pennsylvania Department of Community and Economic Development, is open to any individual, corporation, business trust, limited liability company, limited liability partnership or any other form of legal business entity.
The total tax credit awarded to any qualified taxpayer will not exceed $500,000 in any fiscal year, and the total amount the commonwealth will issue will not exceed $3 million.
“Anyone who thinks they may be eligible is encouraged to apply for this program. I know that these remnants from our past can still serve us well as we head into the future,” Painter said. His office staff is available to help with applications.
Painter represents the 146th House District, which includes Pottstown, Limerick, Royersford, Lower Pottsgrove, Upper Pottsgrove, West Pottsgrove, and New Hanover.
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