Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Five-year income tax exemptions and property tax exemptions for businesses rehabilitating commercial property or starting new businesses in designated Renaissance Zones in North Dakota downtowns.
Do I qualify?
Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Business must be located in a designated Renaissance Zone (downtown revitalization area)
2.Must be rehabilitating an existing building or constructing a new commercial facility
3.Income tax exemption: 100% for 5 years on business income from Renaissance Zone operations
4.Property tax exemption: 100% for 5 years on improvements
5.Must obtain certificate from local Renaissance Zone Authority
IRS · United States
Allows businesses to deduct up to $5.65/sq ft for commercial buildings achieving significant energy savings through improvements to HVAC, lighting, and building envelope systems. IRA expanded the deduction and allowed non-profits and government to allocate it.
NYSDEC · New York
Provides transferable tax credits for remediating contaminated brownfield sites and redeveloping them for residential, commercial, or industrial use, with enhanced credits for affordable housing and green buildings.
CDFI Fund · United States
Attracts private investment into low-income communities by allowing investors to receive a 39% federal tax credit over 7 years on investments made through certified Community Development Entities (CDEs).