If you’re looking for a home in California check out the tax credit for new homes. There is still $50 million available. The purchased home has to be the primary residence of the owner for 2 years.
“California allows qualified new home buyers a total tax credit amount equal to either five percent of the purchase price or $10,000, whichever is less. Taxpayers must apply the total tax credit in equal amounts over three successive taxable years (maximum of $3,333 per year) beginning with the taxable year (2009 or 2010) in which the new home is purchased.” CA, Franchise Tax Board
For More Information: Franchise Tax Board
Comments(0)