CARES Act provides tax break for commercial flooring

Home COVID-19 CARES Act provides tax break for commercial flooring

Mohawk Group’s Accredited, Proficient and Sabbatical 12 x 36 carpet plank styles from the Learn & Live collection.

Calhoun, Ga.—The recently enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act) contains several tax breaks designed to help businesses and workers get back on their feet as quickly as possible, according to Mohawk Group. Included within this legislation is a new tax benefit for renovating or improving business properties, the company said.

This new benefit is available for any business that makes an investment in the interior of its building space before Dec. 31, 2022. Assuming all other requirements are satisfied, investments in new flooring should qualify for the new relief, according to the company.

“We encourage our commercial customers to make use of this opportunity to address interior upgrades, such as flooring, that they may have been putting off,” said Mike Gallman, president of Mohawk Group. “It’s very possible it will be a while before there is a better time to make these improvements once this window of time has passed. Our account executives are here to support our valued customers throughout this pandemic and to ensure the success of their projects.”

Must Read

AHF Products introduces Hartco Contract

Mountville, Pa.—AHF Products is launching Hartco Contract, a new line of vinyl plank and tile floors including SPC rigid core, loose lay thick LVT and...

Tarkett introduces Color Splash rubber tile

Solon, Ohio—Tarkett, a worldwide leader in sustainable flooring, has introduced Color Splash Speckled rubber tile. According to the company, the new collection offers 50...

Piet Dossche joins WFCA leadership webinar series

Dalton—The World Floor Covering Association's (WFCA) second installment of its “A Leader’s Journey” webinar series with special guest Piet Dossche, founder and CEO, USFloors,...

Patcraft introduces new SPC collection

Cartersville, Ga.—Patcraft, a leader in high-performance commercial flooring, has introduced its latest resilient collection, Local Reserve. The line is Patcraft’s first SPC product featuring...

Marazzi launches Sabbia Marmo porcelain tile

Dallas, Texas—Marazzi has launched Sabbia Marmo, a new porcelain tile collection that aims to imbue any space with elegance and relaxation. Inspired by the...

NWFA to host flooring auction

St. Louis, Mo.—During the upcoming National Wood Flooring Association's (NWFA) NOW Event, online November 17-19, the NWFA Education & Research Foundation will be hosting...