Does your property qualify for a Tax Credit?


Under the American Recovery and Reinvestment Act of 2009, energy tax incentives were amended for commercial building owners. Commercial building owners can receive a deduction up to $1.80 per square foot if their property saves a minimum of 50 percent on energy costs, including lighting, heating and cooling, when compared with national standards. This deduction applies to newly developed buildings with energy conservation systems as well as retrofitting existing buildings to improve their energy consumption to within the 50 percent savings requirement.

Additional tax deductions up to 60 cents per square foot are available for improving the efficiency of individual lighting, water heating and HVAC, and the building envelope. A tax deduction reduces the amount of income subject to tax, but an income tax credit actually reduces the amount you owe directly.

Who Receives Credits? The business or individual who pays for the construction is typically the recipient of any income tax credit or deduction. Most of the time, the company or person paying for the building or improvements receives the tax incentives, but sometimes the tenant having HVAC or lighting efficiency projects performed could be the recipient. The deductions are available for commercial buildings or systems placed in service between Jan. 1, 2006 and Dec. 31, 2013.

For more information on how to take advantage of energy tax incentives on your commercial property, go to:

http://energytaxincentives.org/business/commercial_buildings.php


Dedicated to bringing you information,

-ON-SITE Commercial Services Team