||A tax credit for an eligible small
business that pays or incurs expenses to provide access
to persons with disabilities. The expenses must be to
enable the eligible small business to comply with the
Americans with Disabilities Act of 1990.
A tax credit for businesses that hire
individuals who both live and work in a federally
designated "empowerment zone," such as certain areas of
New York City, Chicago, Los Angeles,
Philadelphia, and Washington, D.C. (among others). This credit is 20%
of qualifying wages, up to $15,000 per employee.
||Provides businesses with an incentive to
hire individuals who both live and work in a designated
renewal community. The credit can be claimed if
"qualified wages" are paid or incurred to a "qualified
employee." The credit is 15% of the qualified wages paid or
incurred during a calendar year. The amount of qualified
wages a taxpayer can use to figure the credit cannot be
more than $10,000 for each employee for each calendar
year. As a result, the credit can be as much as $1,500
(15% of $10,000) per qualified employee each year.
||A tax credit for a qualified equity investment in a qualified community development entity made after December 31, 2000. The credit is claimed over a period of up to 7 years. To find the amount of credit each year, multiply the amount paid to the qualified community development entity for the investment by a percentage. The percentage is:
Thus, the credit totals 39% of your investment over a 7-year period. The credit is available through 2011.
- 5% for the year the investment is made and each of the next 2 years, and
- 6% for each of the next 4 years
Provides businesses with an incentive to
hire certain individuals who live on or near an Indian
reservation. The business does not have to be in an
empowerment zone, enterprise community, or renewal
community to qualify for this credit. A business can
claim the credit if it paid or incurred "qualified wages"
to a "qualified employee." Expires December 31, 2011.
Provides businesses with an incentive to
hire individuals from groups that have a particularly
high unemployment rate or other special employment needs.
The business does not have to be in an empowerment zone,
enterprise community, or renewal community to qualify for
this credit. The business can claim the credit if it paid
or incurred "qualified first-year wages" to a "targeted
group employee." Generally, the credit is worth up to 40%
of qualified first-year wages not exceeding $6,000. Expires
December 31, 2011.
||This credit can be claimed only for
residential rental buildings in low-income housing
projects that meet one of the minimum set-aside tests.
The low-income housing credit is determined as a percentage of the qualified basis of each new low-income
building placed in service after 1986. This credit is taken over a 10-year period. In general, the 10-year credit period
starts at the beginning of the tax year in which the
building is placed in service.
||8586, with a copy of 8609
pension plan start-up credit
||A credit for costs paid or
incurred in tax years beginning after December 31, 2001,
for retirement plans established after that date. A
business may be able to claim a tax credit for part of
the ordinary and necessary costs of starting a qualified
defined benefit plan, defined contribution plan
(including a 401(k) plan), SIMPLE plan, or SEP plan. The
credit equals 50% of the cost (up to a
maximum of $1,000 per year) to set up and administer
the plan and educate employees about the plan, for each of the first 3 years of the plan.
employer - provided child care
||A credit for an amount
(not to exceed $150,000) equal to the sum of 25% of the
qualified child-care expenditures and 10% of the
qualified child-care resource and referral expenditures
of a taxpayer for the taxable year.
This credit is a combination of other credits, including:
Rehabilitation credit for expenses incurred in
rehabilitating certain older buildings. Generally, the
percentage of costs a taxpayer can take as a credit is
10% for buildings placed in service before 1936 and 20%
for certified historic structures.
- Energy credit--a 10% (30% in 2006 through 2016) credit that applies to certain costs for solar or geothermal energy property placed in service during the tax year. The credit also applies to qualified fuel cell power plants and qualified small wind energy property.
- Qualifying advanced coal project credit--available to taxpayers who have received clarification of their project as a qualifying project.
employer - paid Social Security tax on employee tips
A credit for Social Security and
Medicare taxes paid by a food or beverage establishment
where tipping is customary for providing food or
||Designed to encourage research
investment, this is an incremental credit equal to the
This credit is effective through December 31, 2011.
- 20% of the excess of qualified research
expenditures for the taxable year over a base amount,
- 20% of any basic research payments
A credit based on selling or using
certain types of alcohol as a fuel for
|Low sulphur diesel
||A credit of 5 cents for every gallon
of low sulphur diesel fuel produced by a qualified small
business, for expenses paid after 2002.
This credit applies to qualified
expenses incurred in testing certain drugs for rare
diseases and conditions, known as "orphan drugs."
|Clean-fuel vehicle refueling
||For 2011, a 30% credit up to a maximum of $30,000 for installing clean-fuel
vehicle refueling property for use in a trade or business (applies to both hydrogen
and non-hydrogen qualified refueling property).
Significantly lower limits apply to nonbusiness use of the property.
Unless extended by Congress, the credit is not available in 2012.
|Energy - efficient new home construction credit
||A credit of up to $2,000 for homebuilders and manufacturers of new single-family
homes that reduce energy usage for heating and cooling by a certain percentage. Subject to several
requirements and certification. Applies to homes substantially completed after December 31, 2005,
and purchased after December 31, 2005, and before January 1, 2012.
|Energy - efficient home appliance production credit
||A credit ranging from $25 to $225 for each appliance to manufacturers of energy-efficient
dishwashers, clothes washers, and refrigerators. Other limits apply. Applies to appliances produced after
December 31, 2005, and before January 1, 2012. An aggregate limit of $25 million per manufacturer
applies in 2011.
|Indian coal credit
||A credit for coal produced from reserves owned by federally-recognized Indian tribes. The credit is $1.50 per ton for coal sold in 2006 through 2009, and $2.00 per ton sold in 2010 through 2012. These amounts are indexed for inflation.
|Distilled spirits wholesalers credit
||A credit for the average carrying costs of the excise tax on distilled spirits. Available to importers, wholesalers, and distillers.
|Agricultural chemicals securities credit
||An "eligible agricultural business" can take a 30 percent credit for "qualified chemical security expenditures" for the tax year. The credit is limited to $100,000 per facility, reduced by the aggregate amount of the credits allowed for the facility in the preceding 5 tax years. The credit is also limited to $2 million per taxpayer per year. The credit is available for amounts paid or incurred after May 22, 2008, and before January 1, 2013.
|Differential wage payment credit
||Eligible small business employers can take a credit equal to 20% of all eligible differential wage payments made in a taxable year (up to $20,000 per employee) to qualified employees serving in the United States uniformed services. The credit is available for payments made after June 17, 2008, and before January 1, 2012.