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Sales Tax Exemption for Large-Scale Renewable Energy Projects (Kentucky)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt Up to 100% of sales and use tax<br />Up to 100% of sales and use tax<br />  +
Incentive/ApplDsc Commercial  +
Incentive/Auth2Code KRS § 154.27-010 et seq.  +
Incentive/Auth2DtEff 2008-01-01  +
Incentive/Auth2DtEnact 2007-08-30  +
Incentive/Auth2Link http://www.lrc.ky.gov/KRS/154-27/CHAPTER.HTM  +
Incentive/Auth3Code 103 KAR 31:190  +
Incentive/Auth3Link http://www.lrc.ky.gov/kar/103/031/190.htm  +
Incentive/AuthCode KRS § 139.517  +
Incentive/AuthLink http://www.lrc.state.ky.us/KRS/139-00/517.PDF  +
Incentive/Cont2Addr 501 High Street  +
Incentive/Cont2Dept Kentucky Department of Revenue  +
Incentive/Cont2Div Sales and Use Tax Office of Sales and Excise Taxes  +
Incentive/Cont2Email ricky.haven@ky.gov  +
Incentive/Cont2Name Ricky Haven  +
Incentive/Cont2Phone (502) 564-6828  +
Incentive/Cont2Place Frankfort, Kentucky  +
Incentive/Cont2Website http://revenue.ky.gov/  +
Incentive/Cont2Zip 40620  +
Incentive/ContAddr Old Capitol Annex  +
Incentive/ContAddr2 300 West Broadway  +
Incentive/ContDept Kentucky Cabinet for Economic Development  +
Incentive/ContDiv Department of Financial Incentives  +
Incentive/ContEmail Don.Goodin@ky.gov  +
Incentive/ContName Don Goodin  +
Incentive/ContPhone (502) 564-4554 Ext:3413  +
Incentive/ContPlace Frankfort, Kentucky  +
Incentive/ContWebsite http://www.thinkkentucky.com/  +
Incentive/ContZip 40601  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/EquipReqs 50 kW minimum for solar power, 1 MW minimum for wind power, biomass, landfill gas, hydropower or similar resource<br /> Minimum Capital Investment for a renewable energy facility: 1,000,000  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc For all state tax incentives: 50% of capital investment in the eligible project  +
Incentive/Name Tax Exemption for Large-Scale Renewable Energy Projects  +
Incentive/ProgAdmin Office of Energy Policy  +
Incentive/StartDate January 1, 2008  +
Incentive/StartDateString 2008-01-01  +
Incentive/Summary In August 2007 Kentucky established the ''
In August 2007 Kentucky established the ''Incentives for Energy Independence Act'' (IEIA) to promote the development of renewable energy and alternative fuel facilities, energy efficient buildings, alternative fuel vehicles, research & development activities, and other energy initiatives. For renewable energy facilities, IEIA provides incentives to companies that build or renovate facilities that utilize renewable energy. A renewable energy facility is defined as one that generates at least 50 kW of electricity from solar power or at least 1 MW from wind power, biomass, landfill gas, hydropower or similar renewable resources. The electricity must be sold to an unrelated party. The minimum investment in any renewable energy facility must be $1 million in capital expenditure which is defined to include various non-capital costs such as labor.<br> <br> Companies may receive a sales tax incentive of up to 100% of the Kentucky sales and use tax paid (on or after the activation date) on materials, machinery and equipment used to construct, retrofit or upgrade an eligible project.<br> <br> In addition the tax credit for renewable energy facilities allows approved facilities to receive a credit up to 100% of [http://dsireusa.org/incentives/incentive.cfm?Incentive_Code=KY25F&re=1&ee=1 Kentucky income tax and the limited liability tax] for projects that construct, retrofit or upgrade facilities that generate power from renewable resources. Approved companies may also require that employees whose jobs were created as a result of the associated project, as a condition of employment, to pay a wage assessment of up to 4% of their gross wages. Employees will be allowed a Kentucky income tax credit equal to the assessment withheld from their wages.<br> <br> The maximum recovery for a single project from all incentives, including the income and liability entity tax credit, sales tax refund and the wage assessment, may not exceed 50% of the capital investment.<br> <br> Prior to making any capital investments in a project, each eligible company must submit an application ($1000 fee) for incentives to the Kentucky Economic Development Finance Authority. Each incentive contract is negotiated on a case-by-case basis to determine the conditions and termination date of the project, not to exceed 25 years from the project's activation date.
years from the project's activation date.  +
Incentive/TechDsc Solar Thermal Electric + , Photovoltaics + , Landfill Gas + , Wind + , Biomass + , Hydroelectric energy +
Incentive/Type Sales Tax Incentive +
OpenEI/PageDescription Tax Exemption for Large-Scale Renewable Energy Projects: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Kentucky  + , Sales Tax Incentive  + , Office of Energy Policy  +
Place Kentucky: Energy Resources +
Website http://www.thinkkentucky.com/kyedc/kybizince.aspx  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts , Incentive with Authorities
Modification date
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00:58:21, 13 February 2015  +
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