Step 25- Define Your Investment Tax Credits (Optional)

Set up your Investment Tax Credit (ITC) rates, recapture rates, and ceilings. Investment tax credits (ITC) allow you to reduce the recoverable cost of an asset.

ITC Rates	Oracle Assets allows you to set up ITC rates for assets that are eligible for Investment Tax Credit. ITC rates determine the amount of ITC for an asset.
ITC Recapture Rates	Oracle Assets allows you to set up ITC recapture rates for assets with Investment Tax Credits. ITC recapture rates determine the portion of the investment tax credit that must be recaptured if you retire the asset prematurely.

See: Defining Investment Tax Credit Rates.

ITC Ceilings

Oracle Assets allows you to define Investment Tax Credit (ITC) ceilings. ITC ceilings limit the amount of ITC for an asset. If you are subject to United States tax law, you must set up ITC ceilings for luxury automobiles.

See: Setting Up Depreciation Ceilings.