Information on the 45L Federal Tax Credit

There are a lot of tax credits available in the world of law which helps in saving a lot of money. One such tax credit is the 45L Federal Tax Credit. This is a tax credit which would enhance your dollars spent on energy efficiency with the help of incentives, credits and also the rebates. This also helps in reviewing all the utility programs and the tax credits that help in reducing the expenditure of the building’s owner capital. In other words, the federal tax credits can help you in realizing up to $2,000 per unit for the above code homes which are also known as 45L and up to $1.80 per square foot for the energy efficient new buildings. The benefits of these credits can be taken by the owner of the building or even the builder when they qualify for these rebates, providing the analysis, collecting the necessary paper work, performing of the required inspections and also completing of the entire documentations.

The Products Which Qualify

The below mentioned products qualify for the 45L federal tax credit

  • Multi family which are held for sale or lease, which are also three stories or less than above grade
  • Dwellings of the single family
  • Each of the unit must be at least 50% and also above the 2006 International Energy Conservation Code
  • All the features should be verified by the certified HERS rater
  • Apartments which are three stories or less above grade

Items Required from the Builders

In order to qualify for this kind of enterprise tax zone, the builder should provide a current set of the architectural plans which should include the plans of the floor, plan of the site, HVAC plans and also the elevations. Apart from this, the builders should also provide the energy compliance documents. Information related to the installed compliance features should also be provided. Information related to the number of units which are already built and the remaining number of units which are to be built should also be provided. Apart from all this information, the builder should also provide the name of the contact person and also their contact number.

Documentation Provided

At the time of applying for the enterprise tax zone, builder would be provided with a summary of compliance documents, HERS verification documents and also the FTC MICROPAS documents.

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