Are taxpayers who cause contamination eligible for the Brownfields Tax Incentive?
A4: Responsible parties who contaminate and remediate a property without changing its use have always been able to deduct environmental cleanup costs as an operating expense. The Brownfields Tax Incentive allows these same property owners to also expense these costs if they are changing the use of the property.
Related Questions
- How would the Brownfields Tax Incentive apply in a situation where a taxpayer capped soil contamination with a parking lot?
- Are properties owned by a municipality, and leased to a taxpayer, eligible for the Brownfields Tax Incentive?
- Are taxpayers who cause contamination eligible for the Brownfields Tax Incentive?
