How to Get a Tax Credit for Your Heating Fuel

As the leaves begin to change, homeowners in Upstate New York are starting to think about all things cold weather. This means pumpkin carving, raking leaves, and thinking about affordable heating options for the winter months. If you are trying to figure out if Bioheat® fuel is in your budget, this blog post is for you! Read on to find out how Bioheat® fuel is one of the most competitively priced heating fuels on the market, and how homeowners in New York can earn extra tax credits for using it in their homes.

Get a Tax Break on Your Heating Costs this Year

You can earn a tax credit of up to 20 cents per gallon of Bioheat® fuel that you use this year! The New York State Department of Taxation and Finance offers a tax credit for those who use Bioheat® fuel for residential space heating or hot water production. By offering a tax credit to residents that utilize fuel with at least 6% biodiesel per gallon of Bioheat® fuel, New York continues to support the growth of alternative energy. You can qualify for a Bioheat® fuel tax credit if:

  • 1. You live in New York State
  • 2. You use Bioheat fuel for space heating or water heating
  • 3. The Bioheat fuel you use is at least 6% biodiesel

If you aren’t sure if you use Bioheat® fuel in your home or not, give your heating fuel delivery provider a call. Call to ask if they are delivering Bioheat® fuel to your home, and if they aren’t, you can ask if they offer it. If they don’t, you can encourage them to include it in their offerings or check out some other providers in your area.

If you know that you get Bioheat® fuel, but you aren’t sure about the blend, that’s another thing to call your heating fuel company about. Most heating fuel companies in the state that deliver Bioheat® fuel, deliver blends with at least 6% biodiesel content, but it’s a good idea to confirm before you complete your tax forms next spring.

Tax season seems so far away, but the fuel you use this winter can help make your refund a little bigger next spring. Click here to learn more about the New York State tax incentive for Bioheat® fuel.

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