Grant Thornton LLP’s National Tax Office and State and Local Tax group have produced a guide to green tax incentives and credits that businesses and individuals can take advantage of at the federal and state level.

The Green tax incentives and credits for businesses and individuals white paper focuses on federal incentives for ordinary businesses, as well as items that specifically benefit the manufacturing, development and energy industries. Information on incentives for consumers and individuals is also provided.

“The federal government is pouring billions of dollars into renewable and alternative energy and conservation,” said Mel Schwarz, a partner in Grant Thornton LLP’s National Tax Office and the firm’s tax legislative affairs director. “Businesses and individuals prepared to take advantage of all the available green tax incentives could see significant benefits.”

Individual states have also made numerous green incentives and credits available to businesses and individuals. Many states are offering corporate deductions and credits, property tax relief, and grant and rebate programs.

“States are matching the federal government’s robust investment in green tax incentives with their own packages of valuable incentives,” said Tim Schram, the national director of Grant Thornton’s State and Local Tax Credits and Incentives practice. “But the available incentives can vary widely among states.”

The white paper includes extensive charts outlining which green tax incentives and credits are available in each state. To read the complete white paper, Green tax incentives and credits for businesses and individuals, please go to http://www.GrantThornton.com/greencredits.