Federal Energy Corporate Deduction
Summary: The Energy Policy Act of 2005 included a new tax incentive, backed and advocated by the National Electrical Manufacturers Association (NEMA) and the Natural Resources Defense Council (NRDC), to improve the energy efficiency of commercial buildings. The “Commercial Building Tax Deduction” establishes a tax deduction for expenses incurred for energy efficient building expenditures made by a building owner. The deduction is limited to $1.80 per square foot of the property, with allowances for partial deductions for improvements in interior lighting, HVAC and hot water systems, and building envelope systems.
The Emergency Economic Stabilization Act of 2008 (HR-1424), approved and signed on October 3, 2008, extends the benefits of the Energy Policy Act of 2005 through December 31, 2013.
About the Commercial Building Tax Deduction Coalition
NEMA convened a broad-based coalition of business, trade, government, energy efficiency, and other groups and organizations. The Commercial Building Tax Deduction Coalition is working to ensure the provision is implemented smoothly and to promote awareness and information about its benefits, and energy efficiency improvements in commercial buildings.
Who Qualifies:
- Commercial operations
- State Government/agencies
- Federal Government/agencies
For More Information & To Apply:
- http://www.efficientbuildings.org
- Energy Star Web Site
- Public Information – IRS
U.S. Internal Revenue Service
1111 Constitution Avenue, N.W.
Washington, DC 20224
Phone: (800) 829-1040
Web Site: http://www.irs.gov
