A Million Green Ideas

Question by James F: How would solar federal tax credits benefit the owner of a S corp?


A business that puts in a solar energy system is entitled to a 30% federal investment tax credit. I am not sure if or how this could benefit owners of an S Corp.

I am also wondering the same about C corps and LLC’s?

I was told that solar tax credits would have no benefit for S corps and the like because they typically do not pay any corp income tax. I am not sure if this is true.

Thanks for any help with this.

Best answer:

Answer by Bob F
This credit would benefit the owners of an S corp on their personal returns as their share of the credit would be passed to them on the Schedule K-1 that they would receive from the S corp.

In the case of a C corp, it would be a credit against their tax liability just like any credit.

As far as an LLC, the question doesn’t make sense since the term LLC is an adjective describing the company – it is not a form of business in itself. In other words, and LLC could be a sole propriatorship, a partnership, an S Corp, or even a C Corp.

In a nutshell, this credit, like all credits, would benefit whoever pays the taxes of the business – the C corp itself, or the owner(s) or the sole proprietorship or partnership or S corp.

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Just having fun speculating and such, how much better would the environment get if the world drove electric cars.. would we physically see a noticeable change?…. I mean, this is obviously not possible in the near future, the whole word driving and being comfortable with electric cars won’t be reached at least for another 50-100 years, but just to satisfy my curiosity.. how much will this benefit our planet?

Best reply by chasvanblom:

Given enough time, the world could potentially return to it’s EDEN-state.

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How would the environment change if everyone drove electric cars?