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Wednesday, January 19, 2011

2010 Tax Act Updates
2010 Tax Act Updates
30% Treasury Grant extension, 100% Bonus Depreciation, etcOn 12.21.2010 we added the following U.S. Federal Tax & 1603 Treasury Grant incentive changes: 1. 30% U.S. Federal 1603 Treasury Grant Program extended thru 20112. 100% Bonus Depreciation for 20113. 50% Bonus Depreciation for 2012 The 30% U.S. Federal 1603 Treasury Grant Program was extended one year, and is now available for qualifying PV projects that commence by the end of 2011. Bonus Depreciation was expanded to 100% for projects placed in service in 2011, and 50% for projects placed in service in 2012. "Bonus Depreciation" means acceleration of the otherwise applicable depreciation (not "more" depreciation, but "sooner" depreciation). 100% Bonus Depreciation means that the whole project's applicable tax depreciation is accelerated to 2011.  This publication/newsletter is for informational purposes and does not contain or convey legal advice. The information herein should not be used or relied upon in regard to any particular facts or circumstances without first consulting a qualified advisor.
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