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Dec. 1, 2005: MCAA Pushes For Clarification On Production Tax Deduction

December 1, 2005
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ROCKVILLE, Md. - The Mechanical Contractors Association of America (MCAA) reports that it is continuing to press for regulatory clarification of the new production tax deduction included in the 2004 American Jobs Creation Act. The law allows a tax deduction for qualifying production activity in construction of 3 percent in 2005 and 2006, 6 percent in 2007 through 2009, and 9 percent for years after 2009.

MCAA said it is working with accounting specialists to clarify what aspects of mechanical construction activity qualify for the deduction, and what activities and income are excluded. Examples of clarifications sought include: what aspects of service and maintenance contracts qualify; how are equipment purchases in new construction and service contracts treated; how is design-build income claimed; and more.

Publication date: 11/28/2005

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