 Combining state and/or federal historic tax credits with the federal New Markets Tax Credit is also a possibility if the project is located in a low-income census tract.Syndicating historic tax credits can be a significant advantage for developers, especially those who do not have sufficient tax liability to claim the tax credits themselves.The "selling" of tax credits is also a useful means to acquire cash up front, that can be poured into the project once the partnership is formed, rather than waiting until federal or state taxes are filed and processed.