Maryland Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 02/18/2013
Program Overview:
| State: |
Maryland |
| Incentive Type: |
Corporate Tax Credit |
| Eligible Renewable/Other Technologies: |
Biodiesel |
| Applicable Sectors: |
Commercial, Industrial |
| Amount: | $0.03/gallon |
| Maximum Incentive: | $500 per year |
| Carryover Provisions: | Credit cannot be carried over |
| Start Date: | 01/01/2008 |
| Expiration Date: | 12/31/2017 |
| Web Site: |
http://www.energy.state.md.us/Residential/bioheatGrant.html
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Authority 1:
Date Enacted:
Date Effective:
Expiration Date:
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Md. TAX-GENERAL Code Ann. ยง 10-727
04/24/2008 (subsequently amended)
01/01/2008
12/31/2017
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Summary:
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 As originally enacted, the credit was only available for purchases made during the 2008 - 2012 tax years, but this was extended by 5 years through 2017 by S.B. 959 in May 2011.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. |
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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