Solar and Wind Energy Device Franchise Tax Deduction
Texas allows a corporation to deduct the cost of a solar energy device from the franchise tax in one of two ways:
- The total cost of the system may be deducted from the company's taxable capital or,
- 10% of the system's cost may be deducted from the company's income.
Both taxable capital and a company's income are taxed under the franchise tax, which is Texas's equivalent to a corporate tax.
For the purposes of this deduction, a solar energy device means "a system or series of mechanisms designed primarily to provide heating or cooling or to produce electrical or mechanical
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