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Texas Tax Code - TAX § 171.553. Application for and Issuance of Allocation Certificate

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A taxable entity or an entity subject to state premium tax liability as defined by Section 233.0001, Insurance Code, must apply to the department for an allocation certificate in connection with a development in which the taxable entity or other entity owns an interest.  The application must be submitted to the department along with the application for an allocation of federal tax credits in a manner prescribed by the department.

(b) The department shall issue an allocation certificate if:

(1) the department approves the application submitted under Subsection (a);

(2) the development meets the requirements to be a qualified development;  and

(3) the department awards an amount of credit to the development under Section 171.554.

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Cite this article: FindLaw.com - Texas Tax Code - TAX § 171.553. Application for and Issuance of Allocation Certificate - last updated January 01, 2024 | https://codes.findlaw.com/tx/tax-code/tax-sect-171-553/

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