States across the country have passed legislation allowing local governments to offer PACE financing for energy-efficient projects on their property or business. Participation in the PACE Program is voluntary and allows property owners to repay their improvement costs over a set time period – typically 10 to 20 years – through property assessments.
in energy efficiency and other improvements to their properties through PACE financing.
Partner with us to find out more about the Property Assessed Clean Energy Program.
After the passing of the Infrastructure Investment and Jobs Act on Nov. 15, the end date for the program’s end date retroactively changed to September 30, 2021, even though the program has ended, this does not mean the end for businesses.
You can retroactively claim the tax credit. Businesses have three years to conduct a lookback to determine if wages they paid after March 12, 2020, through the end of the program are eligible.
Through a cost segregation study, properties can be reclassified from a standard 39-year depreciable life to a 5, 7, or 15-year depreciable life, which enhances federal tax credit savings, and improves cash flow. Building and property owners are also able to retrieve missed deductions from previous years.
Almost any property from any company or industry can benefit from a cost segregation study. National Tax Group has performed cost segregation studies for a variety of industries over the last 20 years and have saved our clients millions in tax incentives. If your business owns property, chances are you can increase your cash flow with this tool.
Businesses like restaurants, hotels, apartment buildings, and commercial property have the most to gain from a cost segregation study. These businesses typically have the most lucrative outcomes from utilizing this tax tool.
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