Energy credit

[Unregistered]

From your update: "A new deduction is allowed for the cost of energy efficient commercial building property placed in service during 2006 and 2007"

Who gets this deduction?

Is it the owner of the building or the construction company?

This is not clear in your update

Thanks!

[Bees Knees]

The term "placed in service" in the tax world applies to the taxpayer that uses the property for its intended purpose. A manufacturer of business equipment for example, cannot take a depreciation deduction on equipment it manufactures because the manufacturer is not the one placing the equipment in service. Even if the equipment remains in inventory for years, no depreciation deduction is allowed until it is placed in service.

So in the case of the "new deduction is allowed for the cost of energy efficient commercial building property placed in service during 2006 and 2007", I would assume that is applying to the taxpayer that actually places the property in service, not the taxpayer that constructed the property.