How to Claim a 45L Credit in Orlando, FL

by | Jun 27, 2024 | Business

The 45L credit in Orlando, FL, is a unique tax credit that allows developers to claim a tax credit if they built or developed energy-efficient buildings. This tax credit is a great incentive to promote energy efficiency. At $5,000 per unit, it’s not an insignificant amount of money to get back. Here is how to apply for this credit in the state of Florida.

Make Sure That You Are Eligible

The first step to applying for a 45L credit is making sure that you and your business are eligible. A tax accountant can analyze your finances and help you see if you are able to apply for this credit. There are a few criteria that you have to meet, such as developing units below certain thresholds of energy consumption.

The time slot in which you developed the units also matters. The law allows you to retroactively claim tax credits if you did not claim it in previous years for dwellings built in the last four years. Double-check with your accountant that old units are eligible.

Get Your Claim Certified

To claim a 45L credit in Orlando, FL, you need to prove that your units actually are energy efficient, not just that you are claiming so for tax purposes. This usually requires providing documentation of energy efficiency and proving Energy Star certifications. There are independent certifiers throughout the state of Florida that will provide this certification after assessing your property for energy efficiency.

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