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- W7520077 abstract "Automatic energy management systems that reduce energy consumption in industrial or commercial process will get a 10 percent tax credit, but similar systems used to control commercial-buildings environments will be denied the credit, according to the narrow interpretation Internal Revenue Service (IRS) officials are giving the 1978 Energy Tax Act. There is little chance for broadening the interpretation during the 60-day comment period. While disappointed, users say this will not deter their current plans, although there will be some impact on future investments because tax credits improve payback calculations. Manufacturers take issue with the interpretation on the grounds that automatic control systems are one of eleven items identified by Congress as eligible for the credits. The IRS focuses on the phrase which qualifies the goal as energy reducing to deny its application for building heating and cooling. (DCK)" @default.
- W7520077 created "2016-06-24" @default.
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- W7520077 date "1980-05-05" @default.
- W7520077 modified "2023-09-23" @default.
- W7520077 title "Deny Building controls tax credit" @default.
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