Possible Federal Tax Credit for Pellet Stove Purchase

[teddy1971]

http://www.politickernh.com/brianla...rican-taxpayers-key-incentives-and-protection

 

[mkmh]

Are you sure he isn't proposing that just for NH? He references helping out "Granite Staters" in the write-up.
I cannot believe Maine isn't doing something like this to help foster the growth of the pellet industry. Wood pellets could give Maine a huge boost in the coming years and it would be nice to see a little bit of forward thinking from our government.

 

[teddy1971]

Are you sure he isn't proposing that just for NH? He references helping out "Granite Staters" in the write-up.
I cannot believe Maine isn't doing something like this to help foster the growth of the pellet industry. Wood pellets could give Maine a huge boost in the coming years and it would be nice to see a little bit of forward thinking from our government.

I'm assuming that this is on the federal level since it resides in the "Energy Act Extension" bill that is due to expire at the end of this year.

 

[imacman]

Yes, this is on a national level, and has to be passed by the House of Rep. next.

 

[jbroich]

Now THAT's a wise way to encourage consumption of native energy sources.

 

[mralias]

Great idea but 10% of what figure????? Anyone know????

 

[mkmh]

My guess would be a 10% credit on the retail sale amount (on the receipt).
That is how credits like this typically work.

Seems like a good idea to me. Canadian pellet manufacturers should be able to meet the new demand by shipping less of their product to Europe (after existing contracts expire).

 

[imacman]

My guess would be a 10% credit on the retail sale amount (on the receipt).
That is how credits like this typically work.

I think that's what I read about this awhile ago, but who knows what will happen to it before (and if) it's passed and signed into law.