XSNX nice news out New Tax Bill Offers Benefits to XsunX Commercial Solar Sales
GlobeNewswire•January 8, 2018
Commercial solar investments see generous congressional tax package benefits
ALISO VIEJO, CA, Jan. 08, 2018 (GLOBE NEWSWIRE) -- XsunX, Inc. (OTC:XSNX), a leading solar and energy saving technologies provider, announced today that the 2018 new tax plan passed by Congress in December, 2017 introduced two provisions favorable for commercial solar installations. These provisions are an expansion of depreciation allowances and a reduction in the corporate tax rate.
With a doubling of the Federal first year depreciation allowance to 100%, XsunX’s solar + energy storage solutions can now offer clients even greater economic benefits. Generally, commercial clients prefer to avoid paying taxes as soon as possible which makes the new first year 100% depreciation rate, that creates a shorter depreciation schedule, more attractive to corporations by allowing them to claim their tax savings sooner.
“With these new tax benefits in hand, XsunX’s marketing channel may just have doubled,” stated Tom Djokovich, CEO of XsunX, Inc. “Our New Year’s resolution is to call back and present improved financial projections to prior sales contacts. And, we are also looking forward to working with future sales contacts to whom we can now present more compelling benefits for investments into solar.”
Commercial clients using XsunX’s solar + energy storage solutions can lower their utility energy bills significantly. Lowering these bills can make commercial entities more profitable, which can, if these profits are not re-invested in other ways, increase tax liabilities. However, the new tax plan also provides a Federal corporate tax rate reduction to 21%, from 35%, which can reduce tax liabilities while also improving the annual rate of return for solar investments.
“In the past, we’ve seen clients excited over the prospect of using energy savings to re-invest in new equipment, expansion efforts, or even incentivize employees,” stated Tom Djokovich, CEO of XsunX, Inc. “However, a 14-point reduction to the corporate tax rate significantly increases the attractiveness of going solar regardless if clients choose to bank the savings or reinvest in their companies,” concluded Mr. Djokovich, CEO of XsunX, Inc.
Individually, either of these two tax benefits are a bonus. Together, they can significantly help add to savings and profitability to improve the net present value (NPV) in analyzing the value of a solar investment. Generally, an investment with a positive NPV will be a profitable one, and with most solar investments having already provided positive NPV projections, the new tax plan only further underwrites the value of investing in self-generation solar solutions.
About XsunX:
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), and energy saving technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.
For more information, please visit the Company's website at www.xsunx.com, or to learn more about the benefits of solar energy for your business or home schedule a free PV project assessment.
Safe Harbor Statement: Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The Company is in no way offering tax advice or guidance in the matters discussed in this release, and readers should seek tax advice from licensed professionals to validate how tax code changes may affect investments.
GlobeNewswire•January 8, 2018
Commercial solar investments see generous congressional tax package benefits
ALISO VIEJO, CA, Jan. 08, 2018 (GLOBE NEWSWIRE) -- XsunX, Inc. (OTC:XSNX), a leading solar and energy saving technologies provider, announced today that the 2018 new tax plan passed by Congress in December, 2017 introduced two provisions favorable for commercial solar installations. These provisions are an expansion of depreciation allowances and a reduction in the corporate tax rate.
With a doubling of the Federal first year depreciation allowance to 100%, XsunX’s solar + energy storage solutions can now offer clients even greater economic benefits. Generally, commercial clients prefer to avoid paying taxes as soon as possible which makes the new first year 100% depreciation rate, that creates a shorter depreciation schedule, more attractive to corporations by allowing them to claim their tax savings sooner.
“With these new tax benefits in hand, XsunX’s marketing channel may just have doubled,” stated Tom Djokovich, CEO of XsunX, Inc. “Our New Year’s resolution is to call back and present improved financial projections to prior sales contacts. And, we are also looking forward to working with future sales contacts to whom we can now present more compelling benefits for investments into solar.”
Commercial clients using XsunX’s solar + energy storage solutions can lower their utility energy bills significantly. Lowering these bills can make commercial entities more profitable, which can, if these profits are not re-invested in other ways, increase tax liabilities. However, the new tax plan also provides a Federal corporate tax rate reduction to 21%, from 35%, which can reduce tax liabilities while also improving the annual rate of return for solar investments.
“In the past, we’ve seen clients excited over the prospect of using energy savings to re-invest in new equipment, expansion efforts, or even incentivize employees,” stated Tom Djokovich, CEO of XsunX, Inc. “However, a 14-point reduction to the corporate tax rate significantly increases the attractiveness of going solar regardless if clients choose to bank the savings or reinvest in their companies,” concluded Mr. Djokovich, CEO of XsunX, Inc.
Individually, either of these two tax benefits are a bonus. Together, they can significantly help add to savings and profitability to improve the net present value (NPV) in analyzing the value of a solar investment. Generally, an investment with a positive NPV will be a profitable one, and with most solar investments having already provided positive NPV projections, the new tax plan only further underwrites the value of investing in self-generation solar solutions.
About XsunX:
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), and energy saving technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.
For more information, please visit the Company's website at www.xsunx.com, or to learn more about the benefits of solar energy for your business or home schedule a free PV project assessment.
Safe Harbor Statement: Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The Company is in no way offering tax advice or guidance in the matters discussed in this release, and readers should seek tax advice from licensed professionals to validate how tax code changes may affect investments.
