Section 48C Tax Credit Solutions
Section 48C Tax Credit Solutions
Baker Tilly can help you navigate section 48C
Baker Tilly’s section 48C consultants pair industrial knowledge with a track record of helping clients apply for and win competitive tax credit programs. Our efforts have resulted in more than $15 billion in awarded tax credits for our clients.
Section 48C Advanced Energy Credit is not an entitlement. It will be competitive in each application window. That’s where we can help. Baker Tilly mapped out the section 48C application steps in our 48C portal so you can involve your team in the process, all in one place. Our portal is where your team and our specialist collaborate from the pre-application phase through the completion of construction.
Unsure of where to start?
Contact our 48C specialists to learn more or visit our portal to get started.
Why apply?
If this is your first time learning about section 48C, you may be wondering if it is worth the effort to apply. The credit value is up to 30% of your capital investment in a qualified advanced energy project. Projects which could qualify are:
- Equipment that re-equips an industrial or manufacturing facility and is designed to reduce CO2 by more than 20%.
- Facility investments that re-equip, expand or establish an industrial facility for the processing, refining, or recycling of critical materials.
What is available?
Section 48C has $10 billion of total tax credit allocation. The first stage of the application process for the first $4 billion of energy credits under section 48C opened on May 31, 2023, and closed on July 31, 2023. This first stage of the application process will help you quickly get feedback on if your facility investments would be a candidate to obtain a 48C tax credit.
As such, manufacturing leaders sense a fiduciary responsibility to understand the value this tax credit could have on making their processing capabilities more competitive.
Whether you decide to navigate the application process on your own or work with Baker Tilly’s section 48C specialists, we are encouraging manufacturers with eligible projects to apply.
Additional Inflation Reduction Act resources
Further guidance released on qualifying advanced energy tax project credit allocation program
The IRS Notice 2023-44 (Notice) provides further guidance on the application for, and award of, $10 billion in Inflation Reduction Act (IRA) credits.
Top 3 considerations for manufacturers considering applying for section 48C energy tax credits
Section 48C Advanced Energy Credit (AEC) is a competitive tax credit program under the Inflation Reduction Act (IRA) that requires manufacturers apply in order to receive an allocation.
Section 48C: the $10 billion in investment tax credits every manufacturer should know about
Unlike many of the tax credits in the Inflation Reduction Act of 2022, section 48C tax credit is a competitive program that requires manufacturers apply in order to receive an allocation.
Industrial policy is accelerating reshoring: how you can benefit!
Watch Baker Tilly’s Bryan Halpin, AMT’s Amber Thomas, and Founder of Reshoring Initiative Harry Moser provide their perspectives during this on-demand webinar. Brian, Amber and Harry briefly review the reshoring trends, the impacts of these laws on reshoring and how manufacturers can best benefit from them. For many companies, the largest opportunities are with the Inflation Reduction Act (IRA).
Inflation Reduction Act: energy provisions
Explore more about the Inflation Reduction Act’s (IRA) credits including ones related to clean energy production, advanced manufacturing, clean vehicles (CVs) and alternative fuels.
Inflation Reduction Act: what manufacturers need to know now
Watch this on-demand webinar discussing what manufacturers need to know about the Inflation Reduction Act of 2022. Those that take action now will be better positioned to maximize their credit opportunities.
IRA: prevailing wage and apprenticeship guidance
The IRS has issued Notice 2022-61 (Notice) which imposes guidance around several new requirements to obtain the many energy efficient tax breaks extended by the Inflation Reduction Act (IRA). Requirements to pay prevailing wages and offer apprenticeship programs do not apply for projects that have “begun construction” within 59 days of the guidance released on Nov. 30, 2022.
ESG and its importance in the insurance industry
ESG has become increasingly more important among organizations and its stakeholders, and this informative article breaks down what ESG is and why it's such a hot topic to the insurance industry.