New ARRA tax credit unveiled
by Staff Writer
Published: August 17,2009
Authorized by the American Recovery and Reinvestment Act (ARRA), this new program will provide tax credits to manufacturers who produce clean energy equipment.
The ARRA created a new tax credit program by authorizing Treasury to provide developers with an investment tax credit of 30 percent for facilities that manufacture particular types of energy equipment. Qualifying manufacturers will produce: solar, wind and geothermal energy equipment; fuel cells, microturbines and batteries; electric cars; electric grids to support the transmission of renewable energy; energy conservation technologies; and, equipment that captures and sequesters carbon dioxide or reduces greenhouse gas emissions.
The manufacturing tax credit is capped at $2.3 billion, and credits are available for two years or until the cap is reached. Companies can file applications for the first round of credit awards through Oct. 16, 2009, and can expect to learn whether their applications are successful by Jan. 15, 2010.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Comstock quits Tuscaloosa play on falling prices
- Clinton office complex sold for $20.5 million
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Meadville mayor seeks Sojourner's Senate seat
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- Entergy plans three solar-power pilot projects
- PHIL HARDWICK: Characteristics of a good year-end fundraising letter
- Record soybean yield is valued at $1.17 billion