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Tax Savings
There is the potential for eligibility for a number of tax credit programs. For example, the Energy Policy Act of 2005 established a $2000 credit per home built for homebuilding contractors that can be used against Federal taxes in 2006 and 2007. Likewise, commercial buildings may be eligible to claim deductions for costs associated with the installation of depreciable energy efficient property during 2006 and 2007. For more information on these programs and a number of others, please contact our office. However, as always, the Economic Development Office strongly recommends that business seek professional tax and legal advice.