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The U.S. Department of Energy and the North Carolina Clean Energy Technology Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in December 2014. Staff are currently working hard on the new version of DSIRE but are also maintaining the content of the current version of DSIRE. Thank you for your continued support and patience during this transition. We hope you are as excited for December as we are!

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Maryland

Maryland

Incentives/Policies for Renewables & Efficiency

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Bio-Heating Oil Tax Credit (Corporate)   

Last DSIRE Review: 10/14/2014
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
Authority 1:
Date Enacted:
Date Effective:
Expiration Date:
Md. TAX-GENERAL Code Ann. ยง 10-727
04/24/2008 (subsequently amended)
01/01/2008
12/31/2017
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 As originally enacted, the credit was only available for purchases made during the 2008 - 2012 tax years, but this was extended by 5 years through 2017 by S.B. 959 in May 2011.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.


 
Contact:
  Information Specialist - Comptroller of Maryland
Revenue Administration Division
Annapolis, MD 21411-0001
Phone: (410) 260-7980
Phone 2: (800) 638-2937
E-Mail: taxhelp@comp.state.md.us
Web Site: http://www.marylandtaxes.com/default.asp
 
  Public Information Officer - MEA
Maryland Energy Administration
60 West Street, 3rd Floor
Annapolis, MD 21401
Phone: (410) 260-7655
Phone 2: (800) 723-6374
E-Mail: dlinfo_mea@maryland.gov
Web Site: http://www.energy.state.md.us
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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.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.