Clean Energy Equipment Tax Credits Ending Soon

The Sept. 16 deadline is nearing for submitting a preliminary application for the federal government’s Section 48C tax credit program for manufacturers of clean energy equipment.

The American Reinvestment and Recovery Act authorizes the Treasury Department to award $2.3 billion in tax credits for qualified investments in advanced energy projects to support new, expanded or re-equipped domestic manufacturing facilities. The $2.3 billion will be distributed via a new program that provides an investment tax credit of 30 percent for manufacturers of particular types of energy equipment and materials.

The credits will support an estimated $7.7 billion in total capital investments in new renewable and advanced energy-manufacturing projects. The tax credit will apply to manufacturing facilities that support generation and conservation, but not the energy generation projects themselves, which are being supported by separate tax incentive programs.

For more information call John Ellis CPA at The John Ellis Company [310-426-2101]