Is the tax credit only for commercial buildings? What about residential buildings such as apartment complexes in which the owners use is one of a business nature?
The benefit is a deduction that is for only commercial buildings, apartments with 4 or more stories or designers of government owned buildings. Residential has its own rules under code section 45L. It is a $2,000 credit (not a deduction) for builders of energy efficient homes. Low-rise apartments are left out of the legislation. Some providers indicate that 45L is for apartments, but the law reads “available for sale” so condos could qualify but rental units under our reading of the law are not eligible. Hope this helps
EPAct Section 179D applies to any government or municipally-owned building that has been renovated or newly constructed since 2006 and exceeds certain ASHRAE 90.1-2001 thresholds. These thresholds will be discussed in detail shortly during the blog. If you are unable to attend, you can come back later and view the entire discussion.
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