Inflation Reduction Act of 2022 – Take advantage of new tax incentives for manufacturers

Description

Abstract: Despite its name, the Inflation Reduction Act (IRA) does more than combat rising prices. According to the White House, the Act represents the “single largest investment in climate and clean energy solutions in American history.” This article highlights several of the IRA’s tax incentives that benefit manufacturers, including expanded deductions for energy-efficient commercial buildings, advanced energy project credits, advanced manufacturing production credits and enhanced research credits for start-ups.