Saturday, March 23rd, 2019

U.S. solar experts say IRS tax proposal little help to big projects

An attempt by the Obama administration to use tax breaks to boost solar energy businesses falls short of expectations among industry officials who were hoping to lure more investors for their projects, analysts and tax lawyers said on Tuesday. They said the proposal released on Friday by the Internal Revenue Service would do little to increase the number of the projects that could qualify for a tax-saving business structure known as a \”real estate investment trust.\” For years, the clean energy industry has sought to have large-scale solar production facilities qualify for REIT status. To qualify as a REIT, a business must have at least 75 percent of its holdings in real estate assets.

Speak Your Mind

Questions or comments? We'd love to hear from you!