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Louisiana Solar Energy Credit Cap
Posted on 1/2/16 at 5:40 pm
Posted on 1/2/16 at 5:40 pm
Earlier this year I recently installed solar panels on my residence with the assumption the state will give a 50% tax credit up to 12,500 max per system.
Yesterday, recieved my tax information from the solar company, with a lovely email attached. The state has decided to change now back out of what was in place for the curent year. Now there is a 10 million cap on credits for the tax years of 2015 and 2016, and 5 million for 2017.
The credits will be on a first come, first serve basis until cap is reached. The company suggested filing my taxes ASAP to recieve my refund.
Does anyone possibly have any prediction how long it will take for this 10 million cap to run out? Regardless I am planning on filing day 1 that I can. Just pretty nerve racking and shitty the state says one thing, then changes it in the middle of the year to screw people over.
Yesterday, recieved my tax information from the solar company, with a lovely email attached. The state has decided to change now back out of what was in place for the curent year. Now there is a 10 million cap on credits for the tax years of 2015 and 2016, and 5 million for 2017.
The credits will be on a first come, first serve basis until cap is reached. The company suggested filing my taxes ASAP to recieve my refund.
Does anyone possibly have any prediction how long it will take for this 10 million cap to run out? Regardless I am planning on filing day 1 that I can. Just pretty nerve racking and shitty the state says one thing, then changes it in the middle of the year to screw people over.
Posted on 1/2/16 at 5:42 pm to blades8088
And why not, just pay everyone what they was told, in the year of 2015 and stop the credit on Jan.1 2016 instead of screwing people over with loans they thought they would get reimbursed for.
Posted on 1/2/16 at 5:49 pm to blades8088
You don't need to file your tax return to get the state credit. Just file the paperwork now and you will get the full credit. The 10 mil cap will not be reached anytime soon.
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