45L Tax Credit: New York

The 45L Tax Credit offers up to $5,000 per dwelling unit to developers of energy efficient apartment buildings and homes in the state of New York. Based on current construction trends, many developers are already building to specifications that would meet the criteria for this credit. All apartment buildings and residential condominium developments completed within the last 4 years in New York are worth assessing for potential 45L Tax Credit. Eligible construction also includes substantial reconstruction and rehabilitation.

Up to $5,000 for Each Dwelling Unit

Under Internal Revenue Code §45L, you are eligible for a Federal tax credit of up to $5,000 for each dwelling unit that you construct or rehabilitate in New York.

Case Study

College Campus Housing in Henrietta, New York
Our 45L tax credit energy analysis found 88 out of 336 units provided a level of heating and cooling energy consumption that is below a reference dwelling unit resulting in tax credits totaling $176,000 in 45L tax credits.

Under the new rules, a 336-unit development could result in tax credits totaling $1,680,000 in 45L Tax Credits.

Credits Can Be Claimed Retroactively

In addition to newly constructed or rehabbed apartments, you can claim missed tax credits if you amend previously filed tax returns within the 3-year Federal statute of limitations.

KBKG Secures the Credits

The process for obtaining these credits requires an expert certification of credits that your tax preparer cannot do on their own. Our engineers and energy tax experts provide a turnkey report with all calculations and certifications while providing expert guidance to you and your tax preparer throughout the process.

KBKG has successfully secured millions in 45L credits for multi-family projects throughout the US, maximizing credits where others have failed. We look forward to hearing from you.