Bio-Heating Oil Tax Credit (Corporate) (Maryland)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Maryland

Name Bio-Heating Oil Tax Credit (Corporate)
Incentive Type Corporate Tax Credit
Applicable Sector Commercial, Industrial
Eligible Technologies Biodiesel
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 0.03/gallon

Carryover Provisions Credit cannot be carried over





Start Date 2008-01-01
Expiration Date 2017-12-31






Maximum Incentive 500 per year










Program Administrator Maryland Energy Administration
Website http://www.energy.state.md.us/Residential/bioheatGrant.html
Date added to DSIRE 2009-01-12
Last DSIRE Review 2014-10-14



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

Maryland allows individuals and corporations to take an income tax credit of $0.03/gallon for purchases of biodiesel used for space heating or water heating. The maximum credit is $500 per year. It may not be refunded or carried over to subsequent years. In order to qualify for the tax credit, the heating oil must be at least 5% biodiesel sourced from U.S. Environmental Protection Agency (EPA) approved feedstocks or be accepted under the U.S. Renewable Fuel Standard. As originally enacted, the credit was only available for purchases made during the 2008 - 2012 tax years, but this was extended by 5 years through 2017 by S.B. 959 in May 2011. This legislation also modified the definition of qualifying heating oil to insert the language described above pertaining to approved feedstocks and the U.S. Renewable Fuel Standard.


Please see the program web site for an application and instructions on claiming this tax credit.


Incentive Contact

Contact Name Information Specialist - Comptroller of Maryland
Department Revenue Administration Division



Place Annapolis, Maryland
Zip/Postal Code 21411-0001
Phone (410) 260-7980
Phone 2 (800) 638-2937

Email taxhelp@comp.state.md.us
Website http://www.marylandtaxes.com/default.asp
Contact Name Public Information Officer - MEA
Department Maryland Energy Administration

Address 60 West Street, 3rd Floor

Place Annapolis, Maryland
Zip/Postal Code 21401
Phone (410) 260-7655
Phone 2 (800) 723-6374

Email dlinfo_mea@maryland.gov
Website http://www.energy.state.md.us
     

Authorities (Please contact the if there are any file problems.)

Authority 1: Md. TAX-GENERAL Code Ann. § 10-727
Date Effective 2008-01-01
Date Enacted 04/24/2008 (subsequently amended)
Expiration Date 2017-12-31


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"