Maryland tax incentive

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teutonicking

Feeling the Heat
Aug 18, 2011
388
Maryland
Hi all--

Thought I would post this information that i received today from Woodstock regarding a new grant incentive for wood and pellet stoves passsed by the Maryland Energy Administration.




Maryland Residents!

The Maryland Energy Administration has launched a pilot program offering a $400 grant for residents who install highly efficient and clean burning wood stoves. The program started September 7th, 2012 and will go until the available funds are used. Funds for this program are limited, and future programs may be dependent on the success of this initial effort.

Woodstock Soapstone Co. has contacted the grant director and our Progress Hybrid, Fireview, Keystone, and Palladian wood stoves all qualify for the Maryland grant program.

If you are eligible and approved for this grant, you will not only receive a $400 grant from the State of MD, you will also receive a $500 Fall Discount from Woodstock Soapstone Co., through October 31, 2012. That’s $900 total savings.

If you order a Fireview or Keystone wood stove by September 28th, 2012, you will beat our price increase on these two stove models! You can save over $1,000 on these two models if you order before September 28th and receive a grant from the state of MD!

Don’t delay, the Maryland grant funds are limited and approved on a first come - first served basis! If you have any questions, please call us at 1-800-866-4344.
Please note that due to the structure of this grant, replacing an existing woodstove with a more efficient woodstove would not qualify for the program.

I hope to hear from you soon,

Tom Morrissey, President
Woodstock Soapstone Company, Inc.

To find out eligibility details for this grant, please click on the link below:http://energy.maryland.gov/Residential/woodstoves/index.html

For a link to the Grant application, please use the link below:http://energy.maryland.gov/Residential/woodstoves/documents/FY13ResidentialApplicationWoodBurningStove1.pdf
 
The clean burning wood stoves must displace electric or non-natural gas fossil fuel heating systems. <--- Catch (Does not state you need to prove this however)

The Maryland Office of the Comptroller has determined that, based on IRS rules, a state grant is considered taxable income on the Federal level. Therefore, a Form 1099-G will be issued for grants received through the Clean Energy Grant Program and grants should be reported as income on federal tax returns.
 
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