Federal Tax Credit | Morton's Stoves

Federal Tax Credit

$300 Biomass Stove Tax Credit Reinstated for 2012 – 2013

A U. S. federal tax credit on 75 percent efficient biomass heating appliances, which expired on Dec. 31, 2011, was reinstated by the “fiscal cliff” legislation – the American Taxpayer Relief Act of 2012 (H.R. 8) – signed by President Obama on Jan. 2, 2013. The bill includes a “tax extender” for Internal Revenue Service Section 25C, which provides a tax credit for, among many other things, qualifying biomass-burning stoves.  The extender provides a 10 percent tax credit of up to $300 on a qualifying biomass heating appliance purchased between Jan. 1, 2012 and Dec. 31, 2013. The credit claimable on the purchase or installation of qualifying biomass units is limited to a “lifetime limit” of $500 (and may be impacted by the purchase or installation of other products that qualify for a 25C credit).

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