2018 Solar Tax Credit Louisiana

If approved anyone who installed solar power ahead of the cap going into effect would receive the state s 50 percent credit even if they made their purchase after 10 million cap was reached.

2018 solar tax credit louisiana.

Addresses for mailing returns. The statement explains that in 2015 the state legislature placed a cap of 10 million on solar tax credits for fiscal years 2015 2016 and 2016 2017 and a cap of 5 million for 2017 2018. Louisiana s solar credit is among the most generous in the country covering up to 50 percent of the first 25 000 spent to install a rooftop solar system. Credit caps see the estimated amount of cap available for solar tax credits and motion picture investor and infrastructure tax credits.

Louisiana has lots of sunshine and laws that are favorable for solar power and renewable energy. Also keep in mind that the federal government offers a 30 tax credit for the whole installed cost of your system that s a huge benefit available to you no matter where you live in the us. This 50 percent was on top of the 30 percent federal tax credit providing an 80 percent credit for solar in louisiana a 30 percent federal invest ment tax credit can be claimed against the tax liability of residential commercial and utility investors in solar systems. Find out when all state tax returns are due.

To submit a valid claim for louisiana s income tax credits for solar energy systems taxpayers must file one of the following louisiana income tax returns. It imposed a cap of 10 million per year on the solar tax credits through 2017. The cap drops to 5 million per year for the 2017 2018 fiscal year. It 540 or it 540b individual income it 541 fiduciary income cift 620 corporation income the income tax return must be accompanied by a completed form r 1086 solar energy income tax credit for individuals and businesses.

It can be combined with a 30 percent.