Energy Tax Act
Tax credit, Tax, National Energy Act
978-613-7-16467-9
6137164675
152
2011-09-29
49.00 €
eng
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Energy Tax Act is a law passed by the U.S. Congress as part of the National Energy Act. The objective of this law was shift from oil and gas supply toward energy conservation; thus, to promote fuel efficiency and renewable energy through taxes and tax credits. This law gave an income tax credit to private residents who use solar, wind, or geothermal sources of energy. The credit is equal to 30% of the cost of the equipment up to $2000, as well as 20% of costs greater than $2000, up to a maximum of $10,000. There were also tax credits to businesses for renewable energy equipment, amounting to a maximum of 25% of the cost of the equipment. The renewable energy credits of this law were increased by the Crude Oil Windfall Profits Tax Act of 1980.
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