HPBA has released two new tax credit flyers. The first one – for the 26 percent 25(D) tax credit – is available (page one and page two). The most important thing to note about this version of the tax credit is that it is expiring at the end of 2022. This means purchase and installation of a qualifying appliance would have to take place before January 1, 2023.
The second flyer – (page one and page two) – is for the upcoming 30 percent 25(C) tax credit. This non-refundable tax credit is capped at $2,000 per year. Retailers should especially like that the tax credit is in place for the next 10 years – from 2023 to 2032. This should make promotion of the tax credit much more straightforward.
You can see HPBA’s FAQs on both tax credits here: https://www.hpba.org/Advocacy/Biomass-Stove-Tax-Credit. If you have any questions, please contact Ryan Carroll.