The Child Care Property Tax Credit is eligible for companies that purchased property for the use of child care.
This includes the purchase of:
- Acquisition of a property
- Building improvements
- Fixtures and Equipment
The owner can receive a credit that equals 100% of the cost of the property. This credit is claimed at 10% per year over a 10 year period. If there are any unused credits, those can be carried forward up to 3 years, limited to 50% of the owner’s state income tax liability for the tax year.