President Biden recently signed the CHIPS and Science Act of 2022. This semiconductor manufacturing package provides a 25% tax credit of qualified investment in chip manufacturing. Taxpayers may elect to treat the credit as payment against tax (“direct pay”). The credits applies to qualified investment placed in service after Decembers 31, 2022 and for which construction begins before January 1, 2027.
If your company is located in Georgia, Silverlode can determine if you have a location in a Georgia Opportunity Zone or Georgia Military Zone.
Businesses in all industries can qualify for benefits in these Georgia Special Zones. Benefits of these Georgia special zones include:
The Colorado Enterprise Zone Program is a valuable tax credit opportunity for businesses located in one of 19 designated areas of Colorado. Companies in any industry can qualify for this tax credit opportunity. Enterprise Zone businesses can participate in several Colorado Income Tax Credit programs including the Investment Tax Credit, Business Facility New Employee Credit, and Job Training Investment Tax Credit.
At Silverlode, we encourage our clients to #InvestInOurPlanet through practices and technologies that will benefit the earth. We are proud to recommend tax credits and incentives to make that possible.
Green incentives are available to companies at the Federal, State and Local level based on the technology investment. These incentives can be in the form of tax credits, grants, abatements, loans rebates, and renewable energy certificates. Over the past year, many of our clients have invested in solar energy. A few examples of tax credits for solar energy include the following.