Covol Technologies Inc. announces Private Letter Ruling from IRS.LEHI, Utah--(BUSINESS WIRE)--Sept. 12, 1995--Covol Technologies Inc. (OTC/BB:CVOL CVOL Control Volume ) Tuesday Tuesday: see week. announced it has received notification of issuance of a Private Letter Ruling from the Internal Revenue Service. This ruling indicates that the product produced by Covol Technologies meets the requirements of a "solid synthetic fuel Synthetic fuel or synfuel is any liquid fuel obtained from coal, natural gas, or biomass. It can sometimes refer to fuels derived from other solids such as oil shale, tar sand, waste plastics, or from the fermentation of biomatter. " and entitles Covol to a tax credit as defined in Section 29 of the tax code. Ken Young, company chief executive officer, indicated that this ruling entitles Covol to take tax credits for some of the products developed by the company. He stated that, "This tax credit significantly enhances the growth potential for Covol Technologies. We look forward to enjoying the advantages of this tax credit for growth of our company." Covol Technologies is a technology development company focused on recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. yesterday's waste into tomorrow's resources. CONTACT: Covol Technologies Inc., Lehi Rob Dahl dahl n. 1. See pigeon pea. 2. or dal A thick creamy East Indian stew made with lentils or other legumes, onions, and various spices. , 801/566-8667; Fax: 801/768-4483 |
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