Replies to post #67429 on APT MotoVox Group Inc. (MTVX)

[bullethole27]

Well the 7M they received in new market tax credits might be different. Here's what I found.

Claiming Credits

The credit equals 39% of the invested amount, but investors may claim only a portion of that amount over seven years. An investor may claim 3% in each of the first three years and 6% in each of the remaining four years. The investor may claim the credits even if the business defaults on the CDE's loan or files for bankruptcy (Government Accounting Office (GAO), New Markets Credit, January 2007).

Investors may carry unused credits backward for one year or forward for 20 years. But CDFI does not reimburse investors for credits that exceed their total tax bill. The investor can sell the investment and the value of the remaining credits to another investor.

http://www.cga.ct.gov/2007/rpt/2007-R-0266.htm