Federal Tax Credit
Congress reinstates the Consumer Tax Credit for Biomass Appliances for 2013!
As part of the “fiscal cliff” package that passed Congress on January 1, 2013, the expired tax credit on energy-efficient biomass-burning appliances was reinstated for 2013. The credit, lobbied aggressively by the Pellet Fuels Institute (PFI), provides a 10 percent tax credit, up to $300 in value, on the purchase of a qualifying wood or pellet-burning product.
The tax credit is also limited to a $500 “lifetime limit” and applies to 2013 and retroactively to appliances purchased between January 1, 2012 and December 31, 2012.
For more information on the current tax credit, please visit http://www.hpba.org/government-affairs/major-projects/25c-tax-credit.