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The intention is to create an incentive for installers of “green energy” or “renewable energy” technologies, which will probably include solar-power electrical systems and similar.
A proposal is under development, which may allow contractors to deduct up to $1,000,000 in gross receipts from the installation of electrical generation facilities powered by renewal fuels such as solar power, wind energy, hydropower, geothermal and biomass within the City of Los Angeles.
If this proposal takes effect at a later time with a retroactive date in 2006 and you have filed your 2006 business tax renewal, you may file an amended renewal excluding the qualifying gross receipts.
Please check back periodically for updates.
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