Construction Contractors Eligible For Tax Incentive
FALLS CHURCH, Va. - The Plumbing-Heating-Cooling Contractors - National Association (PHCC) has learned construction and renovation contractors are eligible for a new 3 percent domestic production tax incentive on qualifying projects. The tax incentive increases to 6 percent in 2006, and 9 percent in 2010.
"Any tax cut is always a good thing for any business," said PHCC and Construction Contractors' Alliance member Mark Giebelhaus of Marlin Mechanical, Phoenix. "Considering the thin margins that most contractors work with, a 3 to 6 percent reduction in taxes can be a significant benefit to growing our businesses."