The Internal Revenue Service released guidance February 23 providing an additional set of energy savings percentages for owners or lessees of energy efficiency commercial buildings seeking certification for their properties to use to qualify for partial tax code Section 179D deduction. Under Notice 2012-22, the applicable energy savings percentages are 25 percent for the interior lighting system, 15 percent for the HVAC and hot water systems, and 10 percent for the building envelope. To receive the partial deduction, systems must reduce total annual energy and power costs with respect to the combined usage of the building’s heating, cooling, ventilation, hot water, and interior lighting systems by the specified minimum percentage.
Register Now As you are not an existing subscriber please register for your free daily legal newsfeed service.Register
If you have any questions about the service please contact firstname.lastname@example.org or call Lexology Customer Services on +44 20 7234 0606.
Minimums for EE building deductions
- Mintz Levin Cohn Ferris Glovsky and Popeo PC
- David Leiter, Sarah Litke and Daniel Phillips
- February 26 2012
If you are interested in submitting an article to Lexology, please contact Andrew Teague at email@example.com.
“I enjoy the CLANZ newsstand and find it highly relevant to my job. I definitely have forwarded various articles to my colleagues on occasion where there is a point of general interest, particularly employment or IT law. I...
“I enjoy the CLANZ newsstand and find it highly relevant to my job. I definitely have forwarded various articles to my colleagues on occasion where there is a point of general interest, particularly employment or IT law. I really appreciate the service, it's a quick way for me to keep up to date in a way I wouldn't otherwise have time to.”