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$300 Tax Credit For 2013     Date added: 08/06/2013
 

The federal tax credit for efficient wood burning appliances has been extended through the end of this year.  All Kuma wood burning stoves and inserts qualify for this $300 tax credit. An efficiency certificate can be downloaded in the information section on the kumastoves.com home page.  Here are the details from HPBA.org:

$300 Biomass Stove Tax Credit Reinstated for 2012 - 2013

A federal tax credit on 75 percent efficient biomass heating appliances, which expired on December 31, 2011, was reinstated by the “fiscal cliff” legislation, the American Taxpayer Relief Act of 2012 (H.R. 8), signed by President Obama on January 2, 2013.  The bill includes a “tax extender” for Internal Revenue Service Section 25C which provides a tax credit for, among many other things, qualifying biomass burning stoves.  The extender provides a dollar-for-dollar tax credit of up to $300 on a qualifying biomass heating appliance purchased between January 1, 2012 and December 31, 2013.  The credit claimable on the purchase or installation of qualifying biomass units is limited to a “lifetime limit” of $500 (and may be impacted by the purchase or installation of other products that qualify of a 25C credit).  The credit for tax year 2012 is claimed on IRS Form 5695.  HPBA recommends all individuals consult with their tax advisor for details on the applicability of the tax credit.

For more information visit: http://www.hpba.org/government-affairs/major-projects/25c-tax-credit

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