Tax Credits for Green Construction

(from CLA) If your nonprofit school is planning to undertake any construction or renovating, or to purchase electric vehicles – including snow blowers, lawn mowers or other commercial vehicles, the school may be eligible for cash tax credits, even if the school doesn't have unrelated business income tax. The Inflation Reduction Act, which took effect earlier this year, offers a number of credits. Credits are generally 6% for green energy investments, with substantial increases in the tax credits to 30% or higher, under certain circumstances.

More from CliftonLarsonAllen