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Internal Revenue Service Releases Manufacturing Investment Tax Credit Program Guidance |
August 24, 2009
Previously published on August 2009
On August 13, 2009, the Internal Revenue Service (the "Service") issued Notice 2009-72 (the "Notice") establishing the qualifying advanced energy project program under Section 48C of the Internal Revenue Code (the "Code"). The American Recovery and Reinvestment Act of 2009 enacted a 30 percent investment tax credit for certain property used in a "qualified advanced energy project" -- a project that re-equips, expands or establishes a manufacturing facility for the production of certain energy-related property.
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