Individual investors are entitled to a 30% refundable tax credit, up to an annual maximum tax credit of $120,000. Individual investors who invest in the first 60 days of a calendar year can elect to apply their tax credits to the previous calendar year’s tax return.
Corporate investors are entitled to a 30% non-refundable tax credit, however, there is no annual tax credit limit. Corporate investors can only claim the tax credits in the year of investment. Both individual and corporate investors can carry unused portions of tax credits forward for four years.