South Carolina Solar Tax Credit 2017

Credits are fully claimed.

South carolina solar tax credit 2017.

In order to qualify for the credit the solar energy property must be located in south carolina placed in service in this state during the taxable year and be located on. Certification for pv systems. 25 south carolina tax credit for solar energy systems. South carolina solar energy tax credit.

Electricity in or on a facility in south carolina can claim an income tax credit of 25 of the cost of purchasing and installing that system. The credit for a small hydropower system may be claimed only if the system was installed on or after july 1 2009. The environmental protection agency s epa national priority list 2. In july 2009 south carolina passed its solar rebate tax incentive law to allow homeowners in the state to claim credits for any renewable energy systems that they installed in their homes.

The epa s national priority list equivalent sites. General tax credit questions. Credits are usually used to offset corporate income tax or individual income tax. 2016 you will apply for the solar tax credit next year when you file your 2017 income taxes.

Residents of the palmetto state can claim 25 percent of their solar costs as a tax credit and if you don t pay enough in taxes to get the full value of the credit in one year it. This law provides a tax credit of up to 25 percent on all eligible costs to a maximum of 3500 or 50 percent of a person s tax liability whichever amount is less when applied to the individual s yearly taxes. South carolina s tax credits may be earned by individuals c corporations s corporations partnerships sole proprietors and limited liability companies. Application for clean energy credit.

Application for solar energy property credit. Sc solar energy system credit. Attach the appropriate credit form s and or sc1040tc worksheet to the sc1040tc and sc1040. State of south carolina department of revenue 2017 tax credits name your social security number credit description code amount most of these credits are computed on separate forms.

The state of south carolina offers an additional tax credit for home and business owners who go solar worth 25 of the total cost including installation. South carolina department of revenue po box 125 columbia sc 29214 0825. Credits may be disallowed if necessary schedules are not attached to your. A tax credit is an amount of money that can be used to offset your tax liability.

Solar energy property credit. Taxcredits dor sc gov angel investor credit parental refundable credit and education donor nonrefundable credit.