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Internal Revenue Code of 1986

The main collection of federal tax laws in the United States, which outlines how taxes are calculated and collected.

Energy efficient commercial building property

Specific parts of a business building or certain systems within it that meet particular energy-saving standards, which can qualify for a tax deduction.

Tax deduction

An amount that can be subtracted from a taxpayer's total income, which reduces the amount of income that is subject to tax.

Qualified energy-efficient draft property

Specific energy-saving kegs (stainless steel or aluminum containers) and related tap equipment used mainly by bars, restaurants, and entertainment venues for serving beverages.

Secretary of the Treasury

The head of the U.S. Department of the Treasury, responsible for managing federal finances and issuing tax guidance.

Property placed in service

The date when a piece of equipment or an asset is ready and available for its intended use in a business operation.