When examining the availability of tax credits, organizations in the nonprofit and local government space typically disregard the opportunity as inapplicable to their organizations. To tax-exempt entities, the concept of leveraging credits to lower their tax burden may seem at odds with their tax status. However, to help build a more sustainable and equitable future, Read More
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Three Tax Credit Opportunities for Manufacturers Under the Inflation Reduction Act
In 2022, Congress passed the Inflation Reduction Act (IRA), a broad piece of legislation featuring provisions to advance clean energy production and domestic manufacturing capacity. Changes to tax credits and incentives under this new law offer manufacturers significant opportunities to fund new renewable energy projects and investment in domestic manufacturing of equipment such as electric Read More
Florida Credits and Incentives Major Programs Update – Tax Credits Repealed
Florida Gov. Ron DeSantis signed H.B. 5 on May 31, 2023, to repeal several tax credit programs, including credits against numerous Florida business taxes. The following six programs are repealed effective July 1, 2023: Qualified target industry tax refund program. Quick action closing fund program. New markets tax credit program. Entertainment industry tax credit program.
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