Friday, January 8, 2010

Going Green using the Tax Law

I'm often asked about tax and other governmental incentives for going green, so thought I'd give a high level overview. It would probably take a book to cover all the federal, state and local incentives that might be available so I'll just be covering the federal tax incentives.

I've worked with clients who got part of their funding to "go green" through federal programs like USDA REAP Grants, which are available for rural development. I do not know where one would find a comprehensive list of all the available programs that might fund your green project.

On a local level however, you should always check the Database for State Incentives for Renewables & Efficiency to see what local incentives are available.

For the CPAs and attorneys who might be interested, there are three main federal Acts which provide tax incentives for businesses and individuals:
  1. The American Recovery and Reinvestment Act of 2009 (ARRA)
  2. Emergency Economic Stabilization Act of 2008 (EESA)
  3. The Energy Policy Act of 2005
Check back and I'll cover the incentives in the next few posts.

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