from Kelsey in Trempealeau, WI:
#348
The business I am working for wants to find out more about how to apply for Green Tax Credits and what they require. How do I find out what we need to do to become a "Green" Hotel/Restaurant, and how to apply for the tax credits?
Now is a great time to look at what tax credits are available.
Now is a great time to look at the numerous tax credits available for business to complete energy efficiency and renewable energy projects! Incentives are offered at both a federal and state level to business owners who install energy efficient equipment, adopt renewable energy measures and improve the overall efficiency of a building.
Focus on Energy encourages all businesses to discuss tax incentives with a trusted tax professional and gather key information about the projects for tax purpose. Businesses will need to provide evidence regarding the cost of the project or system (including labor), when it was placed in service, the square footage of the building and whether the system meets the qualifying IRS criteria.
For information on federal tax credits see our Federal Tax Credits for Businesses Fact Sheet to help make sense of what’s available on a federal level.
Wisconsin manufacturers can now exempt the sales tax they pay on energy used to make their products. To claim this benefit, manufacturers must determine the percentage of energy used to manufacture products and provide an exemption certificate to each utility. Wisconsin Department of Revenue provides more information and a copy of the exemption form.
Also be sure to check out Database of State Incentives for Renewables & Efficiency (DSIRE),
a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency. Click on the links below for specific information on federal incentives and policies.
In addition to federal and state tax credits, eligible Wisconsin businesses can receive financial incentives from Focus on Energy on qualifying projects that save electricity and natural gas. Some businesses may also be able to qualify for special incentives from their local utility. For more information visit our tax page and don’t forget to check with a tax professional to determine what options are best for your business.
Please visit focusonenergy.com/incentives for the latest incentives and requirements, as Focus offers are subject to change.
Published Tuesday, July 21, 2009