Renewable Energy Development Fund Tax Credit Auction Now Open
Reduce Your 2013 Tax liability and Help Support Renewable Energy Development in Oregon
The Oregon Department of Energy and Oregon Department of Revenue invite you to participate in this year's tax credit auction. Proceeds generated from this year's tax credit program will be awarded in 2014.
Tax credit purchase proceeds support development of systems that produce energy using biomass, solar, geothermal, hydroelectric, wind, landfill gas, biogas or wave, tidal or ocean thermal energy technology.
- Tax credits will be available for purchase online from Aug 26 (9am) - Sept 4 (5pm).
- The state will offer up to $1.5 million tax credits in increments of $500.00 up to 3,000 certificates.
- Businesses and individuals with an Oregon income tax liability may bid on the certificates. For individuals, click here to bid in the auction. For businesses, click here.
- If you can't use all of the tax credit on your 2013 tax return, you may carry the unused amount forward for up to three years. You can't transfer the credits to anyone else.
- Minimum bid is $475.00 for $500.00 in tax credits.
For additional information visit: http://www.oregon.gov/dor/PERTAX/Pages/credit-auction-info.aspx