Arizona
Incentives/Policies for Renewables & Efficiency
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Last DSIRE Review: 08/06/2009
| Incentive Type: |
Personal Deduction |
| State: |
Arizona |
| Eligible Efficiency Technologies: |
Comprehensive Measures/Whole Building
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| Applicable Sectors: |
Residential,
Builder/Developer,
Installer/Contractor
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| Amount: | 5% of sales price excluding commissions, taxes, interest, points, and other brokerage, finance and escrow charges |
| Maximum Amount: | $5,000 |
| Project Review/Certification: | Home must exceed the 1995 Model Energy Code by fifty per cent or more as determined by an approved rating program. |
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Web Site: |
http://www.azcommerce.com/
Energy/Energy-Related+Incentives.htm
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Authority 1:
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A.R.S. § 43-1031
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| Date Effective: | 12/31/01 |
| Expiration Date: | 12/31/10 |
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Summary:
Arizona provides an individual income tax subtraction to taxpayers who sell one or more energy efficient single family residences, condominiums or town houses. The credit may be claimed in the year that the house is sold. It is equal to 5% of the sales price excluding commissions, taxes, interest, points, and other brokerage, finance and escrow charges and cannot exceed $5,000. Energy efficient residences include new single family-residences, condominiums, or town houses that exceed the 1995 Model Energy Code Threshold by at least 50% (90 points) as determined by an approved rating program. The subtraction is valid for taxable years beginning after December 31, 2001 and ending before December 31, 2010.
The taxpayer may elect to transfer a subtraction under this section to the purchaser of the residence or to the financial institution that secures a mortgage or deed of trust on the residence. To complete the transfer, the taxayer must prepare a written statement that the taxpayer has elected not to claim the subtraction and that the purchaser or financial institution may claim the subtraction
Instructions for receiving the subtraction can be found in the instructions for Form 140, available under “Forms and Instructions” at www.revenue.state.az.us.
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Contact:
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Tax Assistance
Arizona Department of Revenue
1600 W. Monroe
Phoenix, AZ 85007-2650
Phone: (602) 255-3381
Phone 2: (800) 352-4090
Web Site: http://www.revenue.state.az.us/
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Please note: The information on the DSIRE web site provides an overview of incentives and other policies, but it should not be used as the only source of information when making purchasing decisions, investment decisions, tax decisions or other binding agreements. Please refer to the individual contact provided in each record to verify that a specific incentive or other policy is applicable to your specific project.
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