Bioheat® heating oil Consumers Get a Tax Credit

posted by NYOHA @ 9:39am, Thursday, February 7th, 2013.

"In this world nothing can be said to be certain, except death and taxes." -- Benjamin Franklin

The former ... not something to look forward to. The latter is another story. Because, with tax season approaching in a few weeks, you're about to be rewarded.

New York State is offering relief for consumers struggling with high energy prices: a minimum 2-cent-per gallon tax credit for customers who use Bioheat® heating oil (one cent for every percentage of biodiesel used in the blend, up to 20 cents; the New York City mandate requires a minimum 2% biodiesel/Oilheat blend).

This tax credit remains in effect through 2016. Bioheat® heating oil consumers must live in residential buildings in New York State, including single- and multi-family homes, apartment buildings, co-ops and condos.

How do you get your Bioheat® heating oil tax credit? Speak with your Oilheat dealer as to the percentage of biodiesel included in your Bioheat® heating oil. Your dealer can also supply statements documenting how many gallons of fuel you consumed in 2012. To receive your tax credits, you must file NY State Form CT-241 along with your income tax return. Please consult with your accountant or tax professional.

You can read more about clean, green Bioheat® heating oil here.

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