Energy Savings Tax Credit (Personal) (Indiana)

From Open Energy Information

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Indiana


Name Energy Savings Tax Credit (Personal)
Incentive Type Personal Tax Credit
Applicable Sector Commercial, Residential
Eligible Technologies Central Air conditioners, Furnaces, Programmable Thermostats, Water Heaters
Active Incentive No
Incentive Inactive Date 2011-03-01
Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs
Amount 20% of qualified expenditures
Carryover Provisions Carryover not permitted



Equipment Requirements Equipment must be Energy Star qualified
Start Date 2009-01-01




Maximum Incentive 100 per taxable year






Program Administrator Indiana Department of Revenue
Website http://www.in.gov/dor/reference/files/ib100.pdf


References DSIRE[1]


Summary

This tax credit is no longer available. Indiana offers a tax credit to individuals and small businesses for the costs associated with purchasing Energy Star qualified air conditioners, furnaces, programmable thermostats and water heaters (collectively heating and cooling equipment). The credit may be claimed against the state income tax, insurance premium tax, or financial institutions tax. The amount of the tax credit is set at 20% of the expenditures for qualified heating and cooling equipment up to $100 per taxable year. Credits in excess of a taxpayer's liability for a given year may not be refunded, carried over to succeeding years, or carried back to prior years.

Pass through entities such as partnerships and limited liability corporations (LLC) are permitted to pass the tax credit to individual partners or shareholders based on the individual's share of the entity's distributable income. Individuals using this option remain entitled to take an additional tax credit for their own personal qualified energy savings expenditures, but may not take more than one tax credit for the same project.

It is important to note that the energy savings tax credit can only be claimed for the 2009 and 2010 tax years. The total value of all credits granted under this law cannot exceed $1 million per fiscal year.

Incentive Contact

Contact Name Public Information
Department Indiana Department of Revenue
Address 100 N Senate Ave
Place Indianapolis, Indiana
Zip/Postal Code 46204
Phone (317) 232-2240


Email individualtaxassistance@dor.in.gov
Website http://www.in.gov/dor/index.htm


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

Authority 1: Ind. Code § 6-3.1-31.5
Date Effective 2009-01-01
Date Enacted 2007-05-04
Expiration Date 2010-12-31
















  • 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 (DSIRE)"