December 2019 |
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The GREEN Act — A ray of hope for the solar carve out and the ITC?
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With December well under way, thoughts turn to year-end and tax filing preparation. While we get many questions this time of year related to changes in the tax law and what taxpayers can do before the end of the year to minimize their tax burden, different this year is the impending phase-out of the Investment Tax Credit (ITC) and Residential Energy Credit (REC) from 30% to 26%.
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About BerryDunn
BerryDunn’s renewable energy team partners with clients at every stage, from start-up to IPO. We offer tax advisory, financial, and accounting services for cleantech companies involved in solar, wind, biomass, waste-to-energy, and energy-efficiency projects.
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Pollster: 'Remarkable' public backing for US wind and solar incentives
Americans back extension of tax incentives for wind and solar in what an opinion pollster labelled a "remarkable" 89% show of cross-party support for clean energy. Public opinion specialist Global Strategy Group, which surveyed 800 voters in so-called 'battleground' states across the U.S., said 95% of Democrats, 83% of Republicans and 86% of Independents back an extension, with candidates supporting that position in line for big benefits in voting intentions.
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The promise of opportunity zones is in reach
Looking back, it would have been difficult to predict that six pages out of the 2017 Tax Cuts and Jobs Act could have caused so much consternation. The opportunity zone designation, designed to incentivize investment in distressed communities, appeared in multiple 2017 House and Senate bills with broad bipartisan support.
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