Plug Power Inc (PLUG)

[Big daddy wags]

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"PLUG couldn't benefit from the ITC If they owned the cells since they do not pay taxes as they are not profitable yet!
This way they get a cut of the ITC benefit along with Wells
Fargo"
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This is what is so vexing!
You see, it is my understanding that the Investment tax credit is just that. A "tax credit" which is money that you get from the government in the form a rebate whether or not you pay taxes, because you are willing to invest in that particular technology. It is not a "deduction" that you get to apply against your tax bill only if you paid taxes.
For example:
A year ago (2016) I purchased a $66,000 solar system for my business. Every year I empty out my corporation so as not to subject any money to a corporate tax. Yet my corporation rec'd a tax credit (rebate) check made out to my corporation in the amount of $19,800 (the 30% tax credit) even though my corporation paid 0 dollars in taxes.
At the same time my neighbor leased his solar system from the same company so as not to have to lay out that much cash. But the solar company got the 30% tax credit because he doesn't actually own the solar system.