Code Section 45M
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 45M | 12/31/2011 | The American Taxpayer Relief Act of 2012 | Energy efficient appliance credit | -650 |
| 45M | *12/31/2010 | The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 | Energy efficient appliance credit | -78 |
* Notes on Effective Date
The provision applies to appliances produced after December 31, 2010. The provision related to the gross receipts limitation applies to taxable years beginning after December 31, 2010.
Energy efficient appliance credit
Explanation of Provision
The provision extends the credits available for appliance production in 2011 for two additional years (through 2013), with the exception that the $25 dishwasher credit and the $175 clothes washer credit are not extended.
Energy efficient appliance credit
Explanation of Provision
The provision extends the credit for one year, for appliances manufactured in 2011, and changes the aggregate credit limitation to permit up to $25 million in credits to be claimed per manufacturer for appliances manufactured in 2011. Additionally, the provision changes the two percent gross receipts limitation on the credit to four percent. The credit modifies the standards and credit amounts as follows:
Dishwashers
$25 in the case of a dishwasher which is manufactured in calendar year 2011 and which uses no more than 307 kilowatt hours per year and 5.0 gallons per cycle (5.5 gallons per cycle for dishwashers designed for greater than 12 place settings), $50 in the case of a dishwasher which is manufactured in calendar year 2011 and which uses no more than 295 kilowatt hours per year and 4.25 gallons per cycle (4.75 gallons per cycle for dishwashers designed for greater than 12 place settings), and $75 in the case of a dishwasher which is manufactured in calendar year 2011 and which uses no more than 280 kilowatt hours per year and 4 gallons per cycle (4.5 gallons per cycle for dishwashers designed for greater than 12 place settings).
Clothes washers
$175 in the case of a top-loading clothes washer manufactured in calendar year 2011 which meets or exceeds a 2.2 modified energy factor and does not exceed a 4.5 water consumption factor, and $225 in the case of a clothes washer manufactured in calendar year 2011 which (1) is a top-loading clothes washer and which meets or exceeds a 2.4 modified energy factor and does not exceed a 4.2 water consumption factor, or (2) is a front-loading clothes washer and which meets or exceeds a 2.8 modified energy factor and does not exceed a 3.5 water consumption factor.
Refrigerators
$150 in the case of a refrigerator manufactured in calendar year 2011 which consumes at least 30 percent less energy than the 2001 energy conservation standards; and $200 in the case of a refrigerator manufactured in calendar year 2011 which consumes at least 35 percent less energy than the 2001 energy conservation standards.
Back to Tax Tracker Codes Menu