Benefiting The Environment While Benefiting Your Wallet

45L was first made available by the Federal Policy Act of 2005 and can be claimed by “Eligible Contractors” recognized by the IRS as any Trust, Estate, Partnership, Company, or Corporation that was in charge at the time of construction. This lucrative policy was extended through 2020, which means businesses who qualify have the opportunity to go back and save for 2018 & 2019!

Building Under Construction

Building Under Construction

The 45L Tax Credit rewards eligible contractors for installing energy-saving elements to newly constructed single-family homes and low-rise residential buildings in an effort to reduce energy and power costs. The ideal candidates are Homebuilders and Multifamily Developers.

Our team of in-house experts will work with you to obtain up to $2,000 in tax credits for each dwelling unit that qualifies. 

Read more about how contractors and builders can benefit from the 45L tax credit:

We specialize in helping Contractors, Builders and Architects take advantage of this incentive. If you work in these industries and your residential property is currently under construction or has recently undergone renovations in order to meet the energy efficient threshold, contact us today, and we will work with you to score the most out of the 45L Credit. 

Structures that qualify:

The 45L is a great incentive for owners of residential properties. It can be especially lucrative for qualifying apartment or condominium buildings because each dwelling unit is eligible for separate credits.

    • Apartment buildings
    • Assisted living housing
    • Affordable housing (LIHTC)
    • Production home developments
    • Residential condominiums
    • Substantial reconstruction or rehabilitation
    • Student housing

Qualifications:

  • Structures that stand three stories or lower 
  • Structures with completed construction after August 8th, 2005.
  • Structures that have undergone substantial renovation and rehabilitation after August 8th, 2005, may also qualify.
  • Properties that were sold or leased during the same tax year the credit is claimed.
  • Properties must be constructed to meet 50% reduction in energy and power costs.
  • 10% or more of the energy associated with heating & cooling must come from building envelope elements (Ex: roof, walls & Windows).

We Will Help Claim Your Credit Before You Break Ground

We will work with you from the beginning of the construction process to make sure all energy- saving threshold requirements are met, and that the proper paperwork is collected.

The 45L Tax credit must be filed in the same tax return year that the qualified property was completed and leased in.

 

Contact us for a free assessment.

Want to know more about our tax saving services?