Great Business Tax Incentives
There are many tax incentives if you modify your property to meet certain qualifications. Those who make modifications seeking approval or a certain status from the Leadership in Energy and Environmental Design or LEED may also qualify for awesome tax bonuses and incentives as well. This is especially true if you own larger buildings because you have more to offer by making environmentally-friendly modifications to them.
There is also a tax credit, commonly called the Commercial Building Tax Deduction, of up to $1.80 per square foot for commercial building owners that adhere to certain standards. To receive the credit, you must save at least half of the heating, cooling, ventilation, water heating, and interior lighting energy cost of your building.
There is also a $.60 per square foot tax credit in place if you make improvements to one of your three building systems and improve the efficiency of the building. The percentages vary, but it involves reducing total heating, cooling, ventilation, water heating and interior lighting energy.