Qualified Basis means the portion or percentage of the Eligible Basis that qualifies for the Tax Credit. It is calculated by multiplying the Eligible Basis by the Applicable Fraction.
Qualified Basis means qualified basis as defined in Section 42(c) of the Code. CC. “Qualified Census Tract” means areas of the State which meet the requirements of
Examples of Qualified Basis in a sentence
Qualified Basis Tracking Sheet (QBTS)This form shall be submitted annually until the required set-asides are established.
The Annual HC Recommended is based on the Qualified Basis Calculation.
The Qualified Basis and the amount of the credit are based upon the amount of low income housing within the building.
The Eligible Basis and Qualified Basis of each Qualified Low-income Building at the end of the first year of the Credit Period.
The greater of the following two tests must be met: 1) total Rehabilitation Costs must equal or exceed 10% of the adjusted Project basis during a 24-month period; or 2) the Qualified Basis of the Rehabilitation Costs must equal or exceed $3,000 per Low Income Unit.
More Definitions of Qualified Basis
Qualified Basis as set forth on the Summary Page.
Qualified Basis means qualified basis as defined in Section 42(c)(1) of the Code.
Qualified Basis means the qualified basis of a
Qualified Basis means the qualified basis of the
Qualified Basis means the qualified basis determined under section42 (c) (1) of the Internal Revenue Code.
Qualified Basis means the portion or percentage of the eligible basis that qualifies for the tax credit. It is calculated by multiplying the eligible basis by the applicable fraction.