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How Recycling Helps the Environment and Offers Companies Tax Breaks

When businesses produce waste, it’s their social responsibility to make sure that it is disposed of properly, but, more than that, recycling is also a great way for businesses to save money – several state and federal government agencies offer incentives to companies that recycle properly and make certain institutional changes to their waste management policies.

If you’re looking for ways to make your business more profitable AND make a positive impact on the environment, read on to learn more.

Recycling tax credits

Incentives for Recycling

Some of the recycling incentives offered to businesses for recycling and saving energy include:

    • IRS credits: The IRS offers both depreciation credits for recycling, and energy credits for using products such as solar panels and fuel cells. Items that are included on the depreciation credit list include qualified reuse and recycling property acquired after 2008, and biomass and biofuel-related property – a full list can be found in the IRS’s Publication 553.
    • The Department of Energy: The Department of Energy offers grants to businesses for projects that meet certain energy-saving requirements, or those that want to invent new products and methods of saving energy. Additionally, the DEP offers grants to states for waste disposal programs; many states then allocate those funds to businesses that meet certain waste management requirements.
    • State government programs: Many states, including Maryland, Texas, Nevada, Iowa, and North Carolina, offer a variety of tax exemptions, tax credits, and other financial incentives to businesses for their recycling and waste management policies. These programs range from savings on income tax and property tax to rebate programs for buying recycling equipment. In some states, equipment rebates are fixed dollar amounts, while others are a percentage of the equipment in question.
    • Improved customer relations: Not all the increased profitability from recycling comes from government rebates and credits. When consumers know a business recycles and disposes of their waste in an eco-friendly manner, it improves their opinion of that business, making them more likely to become customers.

    Recycling tax credits for businesses

    Global Trash Solutions offers waste management consulting services and waste disposal equipment for businesses. For more information, contact us today at 866-760-8194.