Ny State Solar Tax Credit 2017

Ny sun has multiple resources to help new yorkers harness the power of the sun including.

Ny state solar tax credit 2017.

You will need to work with a nyserda approved participating contractor to find out if you are eligible for ny sun incentives. You must claim one half of the total credit on your new york state return and your father would claim the other half of the credit on his new york state return. Partnering with leading manufacturers in the solar industry ny state solar exclusively offers premium solar components and the most innovative financing methods. Ny sun works directly with solar contractors and developers to offset the cost for new york residents to go solar.

Solar energy system equipment credit. Some municipalities and school districts have opted out and will include the value of the solar installation in your property tax assessment without the exemption. File this form with your local property assessor. New york state is making solar energy more accessible to homes businesses and communities through ny sun.

New york is a top 10 solar state 1 and for good reason. Learn how you can benefit from new york s solar incentives rebates tax credits today. First you don t have to purchase your system to claim the credit i e. Thanks to rebates solar tax credits and exemptions new yorkers could earn back up to 40 on the up.

The solar energy system equipment credit is not refundable. How much is the credit. The credit is equal to 25 of your qualified solar energy system equipment expenditures and is limited to 5 000. The new york solar tax credit can reduce your state tax payments by up to 5 000 or 25 off your total solar energy expenses whichever is lower.

Are you a full or part year new york city resident. You each pay one half of the cost of the solar energy system equipment. The system must also be installed and used at your principal residence in new york state. Incentives are provided directly to your selected contractor and vary throughout the state.

Earned income credit new york state new york city economic transformation and facility redevelopment program tax credit empire state apprenticeship tax credit. It applies to you even if you went solar with a lease or. The great advantages of the solar equipment tax credit are twofold. You must each file form it 255 showing the computation of the total credit and submit the statement described.

Ny state solar is one of the fastest growing solar providers in the country currently rated as one of the top solar providers in ny. Form rp 487 from new york state department of taxation and finance. New york state offers several new york city income tax credits that can reduce the amount of new york city income tax you owe.