Form It-Hc - Certification Of Georgia Housing Tax Credit Page 2
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3IT-HC
D. Partner is a
General Partner
Limited Partner
Limited Liability
Company Member
E. Partner type is an
Individual
Corporation
Partnership
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F. Taxpayer’s percentage
of Federal Low Income Housing Credit __________%
2
G. Taxpayer’s percentage
of Georgia Housing Tax Credit ________________%
USAGE OF GEORGIA HOUSING TAX CREDIT
Part III.
FEI / SS# / NAIC # of Taxpayer /Shareholder____________________
Instructions:
In the schedule below, each shareholder, partner or member who receives a
proportionate share of the Georgia Housing Tax Credit should list the amount
claimed/earned each year. Then complete the following lines to arrive at the credit
to be claimed on their tax return. This form will be used to show your credits earned
and used and will be filed with shareholders income tax return or insurance premium
tax return.
The letters TIN appear at certain points on this form and means taxpayer
identification number. The Georgia Housing Tax Credit can only be claimed for
buildings placed in service after January 1, 2001. For the purposes of the Georgia
Housing Tax Credit, transfers of ownership of the credit do not trigger recapture.
However in the case of a transfer, the Commissioner of the Department of Revenue
must be notified. Both the transferer, on the return following the transfer, and the
transferee, on tax returns claiming the credit should check the box indicating transfer
below. There is a three-year carry-forward of unused tax credits.
Check if Transfer has occurred.
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Enter percentage if known.
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