Green businesses can receive some very nice incentives for going green. The Federal Government offers several different tax credits for businesses who choose sustainable energy or purchase hybrid or electric cars. Learn more about the government initiatives available to green businesses below.
Energy efficient commercial buildings that have reduced their energy consumption by at least 50 percent can receive a tax credit of up to 1.80 per square foot. Buildings that have been renovated to decrease energy use by less than 50 percent can enjoy a partial tax credit that equals 60 cents per square foot.
Businesses who successfully encourage their employees to commute or use public transit can save about 10 percent a year on payroll taxes, up to 100. Tax breaks also exist for employers who buy a company bicycle or choose to offer a financial incentive to employees who need cash to buy, maintain, or store their bicycles.
Manufacturing companies who choose to use energy efficient appliances in their companies are eligible to receive a tax credit, and green builders can get tax breaks, too. Regardless of what type of business you own, the government is interested in rewarding companies that have gone green at tax time.