Historic Preservation Tax Credit (HPTC)

The Historic Preservation Tax Credit (HPTC) provides tax credits to qualified taxpayers who will be completing the restoration of a qualified historic structure into an-income producing property. All projects must include a qualified rehabilitation plan that is approved by the Pennsylvania Historical and Museum Commission (PHMC) as being consistent with the standards for rehabilitation of historic buildings as adopted by the United States Secretary of the Interior.

Uses

Tax credits may be applied against the tax liability of a qualified taxpayer which includes an individual, corporation, business trust, limited liability company, limited liability partnership or any other form of legal business entity. The tax credits awarded to a qualified taxpayer shall not exceed 25 percent of the qualified expenditures as determined by the application in connection with the completed project. The total tax credits awarded to a qualified taxpayer may not exceed $500,000 in any fiscal year.

Contact us for an informational packet.