Manufacturing tax credit may be expanded

News

Manufacturing tax credit may be expanded

Dayton Daily News – An Ohio senator is among those introducing legislation expanding a manufacturing tax credit that has benefitted a Moraine firm.

U.S. Sen. Sherrod Brown’s office said Thursday, May 6, that Brown and other senators have introduced legislation that would expand the Advanced Energy Manufacturing Tax Credit (48C) program.

The tax credit reduces federal taxes by 30 percent of the amount of investment in new equipment for advanced energy manufacturing work. Qualifying firms that may benefit include those making wind turbines, solar panels, hybrid vehicle systems, carbon capture systems, biofuel refinery parts and more, Brown’s office said. The credit is aimed at domestic companies.

Read the whole article »