Elective Pay (also called "direct pay”) allows applicable entities that do not owe Federal income taxes to, for the first time, receive a payment equal to the full value of tax credits for building qualifying clean energy projects or making...
April 18, 2024
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Elective Pay (also called "direct pay") allows applicable entities that do not owe Federal income taxes to, for the first time, receive a payment equal to the full value of tax credits for building qualifying clean energy projects or making qualifying investments. This Fact Sheet outlines how to access the Elective Pay option in U.S. Territories. It explains who is eligible, what types of tax credits are eligible for elective pay, how to claim the credits, and more.