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Form 4626 for Austin Texas: What You Should Know
May 23, 2023. This bill amends the Internal Revenue Code to remove the tax burden from the manufacture of energy grid component manufacturing equipment when manufactured outside the United States. The bill contains provisions to establish a tariff-like treatment for foreign manufactured energy grids component manufacturing equipment. [1] ​The bill also creates a new deduction for the installation of energy grid components produced outside the United States that meet certain manufacturing standards. This bill was supported by the majority of the Senate and the House. [2] ​The bill includes certain exemptions from the manufacturing cost limitation rules as long as the product is manufactured inside the United States. See page 4 of Text of S.4626. [1] See text S.4626 (2021) [2] See text S.4626 (2021) Jan 31, 2024 ▷ Summary of the S.4626 — 117th Congress (2) Facilitating the Restoring of Energy Grid Component Manufacture Act of 2024 and the new deduction for installation of energy grid components manufactured outside the United States. S.4626 — 117th Congress (2) Facilitating the Restoring of Energy Grid Component Manufacturing Act of 2024 and the new deduction for installation of energy grid components manufactured outside the United States.
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