With 2016 coming to a close, many companies are reviewing the corporate tax choices for the year. If your company has completed or expects to complete an energy efficiency lighting project, you have an opportunity for additional accelerated depreciation tax benefits from the Federal Government. Through the Energy Policy Act (EPAct) and Section 179D programs, companies can receive an additional tax benefit for improving the efficiency of their building(s) in accordance with the prescribed building baseline. Companies who retrofit their facility with Orion’s LED lighting may see a tax benefit of up to $0.60 per square foot based on system performance and energy usage.
These tax benefits, which were extended at the end of last year, are set to expire at the end of this year. If your project is completely installed by December 31, 2016, it will be eligible for the program. Projects completed after January 1, 2017 are not eligible. To learn about the program and the opportunities for your company or customer, click here to download Orion’s most recent white paper devoted to this topic – “Five Key Questions: Energy Policy Act (EPAct) and 179D Commercial Buildings Tax Deduction.” This white paper will give you an overview of the program, what is required to qualify and apply, and how the program can impact your business. It will help you understand the right questions to ask to be sure you are getting the most benefit from this federal program.
Since this a tax program, your tax advisor can help you determine if the program applies to your company and the amount of the benefit you can expect.