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Posted by Drew Edmundson on October 3, 2008, 3:54 pm
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wrote:
>David Arnold wrote:
>> If the House passes the Emergency Economic Stabilization Act of 2008
>> on 10/3/08, when will it likely be effective?
>>
>> Specifically, I want to install a solar photovoltaic system on my
>> business this year (2008) and claim the 30% tax credit.
>> Unfortunately, since I am subject to AMT I cannot take the solar
>> investment tax credit against AMT. One of the tax incentives built
>> into the Emergency Economic Stabilization Act of 2008 is ability to
>> take the tax credit even when subject to AMT. I'm trying to figure
>> out if this will likely become effective in 2008 so that I could
>> actually install the system this year and get the tax credit even with
>> AMT in 2008.
>>
>> Thanks for your thoughts.
>>
>Extended to tax year 2008.
>Division C, Title I, Section 101 of HR 1424, Passed by both
>Houses of Congress and awaiting Pres. Bush's signature.
And according to the WSJ Bush has signed it. The bill is
available at www.thomas.loc.gov.
--
Drew Edmundson, CPA
Cary, NC
--
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