Bio-Heating Oil Tax Credit (Personal) (Maryland)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Bio-Heating Oil Tax Credit (Personal)|
|Incentive Type||Personal Tax Credit|
|Applicable Sector||Commercial, Residential|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||0.03/gallon of biodiesel|
|Carryover Provisions||Credit cannot be carried over|
|Maximum Incentive||500 per year|
|Program Administrator||Maryland Energy Administration|
|Date added to DSIRE||2009-01-12|
|Last DSIRE Review||2014-10-14|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
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 As originally enacted, the credit was only available for purchases made during the 2008 - 2012 tax years, but this was extended by 5 years through June 2018 by S.B. 959 in May 2011.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.
|Contact Name||Information Specialist - Comptroller of Maryland|
|Department||Revenue Administration Division|
|Phone 2||(800) 638-2937|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Md. TAX-GENERAL Code Ann. § 10-727|
|Date Enacted||04/24/2008 (subsequently amended)|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.