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CohnReznick is excited to share their newest piece of M&D thought leadership. This article highlights the opportunities available to manufacturers in the Inflation Reduction Act (IRA). The IRA contains over $700 billion allocated towards new climate-related tax credits that can largely benefit manufacturers making advancements in the green-tech space.
The Inflation Reduction Act introduces tax credits specifically tailored to incentivize the manufacturing of clean tech products. Manufacturers engaged in producing eligible clean tech energy and storage components, such as batteries, or mining critical minerals used in these components, may be eligible for federal manufacturing income tax credits on a per unit basis.
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