The Low Income Housing Tax Credit (LIHTC) is a tax incentive intended to increase the availability of low income housing. Section 42 provides an income tax credit to owners of newly constructed or substantially rehabilitated low-income rental housing projects. The dollar amount of the LIHTC available for allocation by each state (the "credit ceiling") is limited by population. Each state is allocated credit based on $1.25 per resident. States may carry forward unused or returned credit derived from the credit ceiling for one year; if not used by then, credit goes into a national pool to be allocated to states as additional credit. State and local housing agencies allocate the state's credit ceiling among low-income housing buildings whose owners have applied for the credit. The LIHTC reduces income tax liability. It is taken annually for a term of ten years and is intended to yield a present value of either (1) 70 percent of the "qualified basis" for new construction or rehabilitation that are not federally subsidized (i.e., financed with tax-exempt bonds or below-market federal loans), or (2) 30 percent of the qualified basis for the cost of acquiring certain existing projects or projects that are federally subsidized. The actual credit rates are adjusted monthly for projects placed in service after 1987. The qualified basis represents the product of the "applicable fraction" of the building and the "eligible basis" of the building. The applicable fraction is based on the number of low income units in the building as a percentage of the total number of units, or based on the floor space of low income units as a percentage of the total floor space of residential units in the building. The eligible basis is the adjusted basis attributable to acquisition, rehabilitation, or new construction costs (depending on the type of LIHTC involved). In the case of buildings located in designated Qualified Census Tracts or designated Difficult Development Areas (DDA), eligible basis can be increased up to 130 percent of what it would otherwise be. This means that the available credit also can be increased by up to 30 percent. For example, if the 70 percent credit is available, it effectively could be increased up to 91 percent. There is a limit on the number of Qualified Census Tracts in any Metropolitan Statistical Area (MSA) or Primary Metropolitan Statistical Area (PMSA) that may be designated to receive an increase in eligible basis: all of the designated census tracts within a given MSA/PMSA may not together contain more than 20 percent of the total population of the MSA/PMSA. For purposes of HUD designations of Qualified Census Tracts, all non-metropolitan areas in a state are treated as if they constituted a single metropolitan area.To learn more, go to: http://www.huduser.org/portal/datasets/qct.html. Data is current as of: 02/07/2013

We update the donation tax credit (DTC) statistics data yearly using Inland Revenue administrative data. Data and Resources Donation tax credits statisticsXLSX Statistics of donation tax credits, including payroll giving, by income band and type for 2002 onwards. Explore Preview Download

Detailed annual lower level geographical estimates of families and their children in receipt of Child & Working Tax Credits as at 31 August of the reference year; geographical location at country, region, local authority, lower layer super output areas (LSOA) levels and Scottish datazones. Previously listed under 'Revenue-based Taxes and Benefits: Personal Tax Credits'.

Source agency: HM Revenue and Customs

Designation: National Statistics

Language: English

Alternative title: Child Tax Credit and Working Tax Credit Statistics, Small Area Data

The Department of Taxation and Finance annually produces a mandated dataset of credit activity under the General Business Corporation Franchise Tax (Article 9‐A) to help analyze the effects of the claims. The data used to generate this report come from an annual study file based on the latest available data drawn from New York State corporation tax returns. The totals in the summary datasets may not match the detail datasets due to rounding and disclosure requirements. The totals in the summary datasets may not match the detail data due to rounding and disclosure requirements. Total values for numbers of taxpayers and amount of credit, in addition to mean and median credit, were computed using all taxpayers in the study file.

A series of datasets presents profiles of the credits distributed by different subgroupings. These include: • Summarization of tax credit activity by credit and component • Summarization of tax credit activity by credit, component and basis of taxation. • Summarization of tax credit activity by credit, component and NAICS industry description.
• Summarization of tax credit activity by credit, component and the size of the credit used.
• Summarization of tax credit activity by credit, component and the size of the entire net income of the taxpayer.

Secrecy provisions preclude providing all subgroupings for all credits and also generally require the omission of credit refund data. These datasets only contains data for corporate franchise taxpayers filing under Article 9-A. It does not include statistics for taxpayers filing as banks under Article 32 (however, starting in 2015 banks and general business corporations will file under the same tax article, Article 9A), insurance companies filing under Article 33, or taxpayers filing under any of the various sections of Article 9. Nor does it provide data for taxpayers claiming credits under Article 22, the Personal Income Tax. These taxpayers claim credit by virtue of being sole proprietors or as recipients of credit that originated with flow-through entities (i.e., S corporations, limited liability companies, or partnerships).

Provides monthly and annual historical records on all HMRC Tax & NIC receipts, and Tax Credit payments. Previously listed under 'Revenue-based Taxes and Benefits: Personal Tax Credits'.

Source agency: HM Revenue and Customs

Designation: National Statistics

Language: English

Alternative title: Tax Credits: Net payments