The Tax Extenders tax package reinstated and extended the $300 tax credit for biomass heaters that are 75% efficient using lower heating value. This tax credit was retroactively renewed effective January 1, 2014 and expires on December 31, 2014.


How to Qualify for the Tax Credit
  1. Purchase and place in service a qualifying Central Boiler outdoor furnace between January 1, 2011 and December 31, 2014.
  2. Save the purchase receipt and the manufacturer's certification statement for the furnace purchased. Click here for Manufacturer's Certification for qualifying products.
  3. Claim the tax credit associated with your qualifying purchase on your federal filing for the 2014 tax year.
Details of the Tax Credit
  1. Tax credit is 10% of the amount paid for the qualifying product (installation costs cannot be included) up to a maximum of $300.
  2. The credit applies to the homeowner's primary residence only.
  3. A tax credit is a dollar-for-dollar reduction subtracted from your tax liability. Therefore, $300 can be subtracted directly from the amount of tax that is owed, or added to a tax refund.
Summary

This summary information is provided as a convenience and may not be relied upon as a substitute for professional tax advice. Central Boiler, Inc. is not a tax advisor. Taxpayers claiming a tax credit should consult a tax professional with any questions. Central Boiler is not responsible or liable for the taxpayer's ability to receive tax credits. More information is available at http://www.energystar.gov/about/federal_tax_credits/biomass_stoves.