The New Markets Tax Credit (NMTC) Program is a federally funded program designed to attract private investment into distressed communities. Investors are incentivized to provide outside capital in exchange for credits against their federal income tax liability. Host Damien Martin sits down with guest Wes Ernst to discuss this sometimes-overlooked incentive and a new tool he helped to develop that improves speed, increases accuracy, and drives value through the entire NMTC process. Here’s what they discuss:
- Who is Wes Ernst? @01:19
- What’s the NMTC and how does it work? @05:28
- What industries are good candidates for the NMTC? @16:11
- Are there compliance considerations? @24:18
- What’s the future of the NMTC? @26:40
- How did Wes come to work with the NMTC? @32:47
- Closing thoughts from Wes @36:59
CONTACT INFORMATION FOR OUR GUEST
Wesley J. Ernst, CPA is a member of FORVIS’ Healthcare Practice and leads the Cincinnati office healthcare team, focusing on the Ohio market and serving clients throughout the country. He has more than 15 years of experience providing assurance services for clients primarily in the healthcare and nonprofit industries. He serves as manager over audits, reviews, compilations, and other financial consulting services. Specialty areas of practice for Wes include hospitals, FQHCs, behavioral health entities, and private equity backed healthcare organizations. He also serves as one of the firm’s leaders in overseeing services associated with the NMTC Program.
Connect with Wes on LinkedIn
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