State Clarifies Renewable Energy Installations Tax Credit Requirements
By Sonia Isotov
Last week the State of Hawaii Department of Taxation issued an announcement providing further clarification for taxpayers who may have installed a residential renewable energy technology system in 2012.
With the introduction of new administrative rules for the renewable energy technology income tax credit applying to systems installed and placed into service on or after January 1, 2013, taxpayers asked for clarification related to residential systems installed in 2012.
Tax Announcement 2012-14 details the steps that taxpayers must take in order to claim the renewable energy technology income tax credit in 2012.