We are considering setting up a manufacturing plant on the border between Mexico and California. If some of our operation are in Mexico and some in California, what do we need to do to receive a qualifying energy project credit?
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William Keats
The plant effectively is on the border BETWEEN Mexico and the U.S. Are you considering yourselves to be an American corporation? If so, you are not a Mexican corporation. This credit was established by the American Recovery & Reinvestment Act of 2009. The act provides an investment tax credit of up to 30% of qualified investment in a qualifying advanced energy project.
To qualify for the credit, a project MUST be certified in advance by the IRS. To obtain certification:
Apply in advance;
Receive an allocation of a specific amount of credit from IRS;
Sign agreement with IRS agreeing to meet certain requirements;
Request within one year after credit was allocated and show they have taken certain steps toward
implementing their projects;
Receive certification letter from IRS; and, Place the facility in service within 3 years after certified.
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563 weeks ago
To qualify for the credit, a project MUST be certified in advance by the IRS. To obtain certification:
Apply in advance;
Receive an allocation of a specific amount of credit from IRS;
Sign agreement with IRS agreeing to meet certain requirements;
Request within one year after credit was allocated and show they have taken certain steps toward
implementing their projects;
Receive certification letter from IRS; and, Place the facility in service within 3 years after certified.