HAVE HVAC PLANS? TAX CREDIT WILL HELP A BIT

Effective for taxable years beginning after December 31, 2008 through December 31, 2010, there is an Indiana tax credit for energy star heating and cooling equipment purchaed by an individual or small business which is independently owned with less than 100 employees and less than $10million in annual gross receipts.  Heating and cooling equipment means a furnace, water heater, central air conditioning, room air conditioner or programmable thermostat.  The credit is equal to the lesser of 20% of the amount of the expenditures for energy star heating and cooling equipment or $100.  The maximum tax credits allowed in a fiscal year may not exceed $1,000. Claim the credit on your annual tax return.  For more information, see Indiana Department of Revenue Information Bulletin #100.