The tax credits for FY2011 will not be available; the Puerto Rican Department of Revenue has suspended this tax credit. Puerto Rico enacted legislation in August 2008 in an effort to reduce its 68% reliance on fossil fuels for electricity generation. Act 248 provides a corporate tax payer with a credit for acquiring and installing "solar electric equipment." The credit is allowed against the taxpayer's income tax. During fiscal years 2007-08 and 2008-09, the credit amount is 75% of the cost of the equipment and installation. During fiscal years 2009-10 and 2010-11, the credit is 50% of the cost of the equipment and installation. During fiscal year 2011-12 and beyond, the tax credit is limited to 25% of the cost of equipment and installation. In order to apply for the credit from the Secretario de Hacienda (Department of Revenue), the taxpayer must provide the following documentation:
Name: | C3268 (2008) Act No. 248 (in Spanish) |
Date Enacted: | 08/10/2008 |
Effective Date: | 08/10/2008 |
Name: | C1326 (2009) Act No. 7 (in Spanish) |
Date Enacted: | 03/09/2009 |
Name: | Hacienda AD 09-05 (in Spanish) |
Date Enacted: | 07/13/2009 |
Effective Date: | 07/13/2009 |
Name: | Departamento de Hacienda |
Address: |
PO Box 9024140 San Juan PR 00902 |
Phone: | (787) 721-2020 |
Email: | forms@hacienda.gobierno.pr |
Name: | Autoridad de Energía Eléctrica (AEE) |
Address: |
PO Box 364267 San Juan PR 00936 |
Phone: | (787) 521-3434 |
Email: | info@prepa.pr.gov |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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