Louisiana DOR Issues Rules on Energy Tax Credits

HOUSTON—The Louisiana Department of Revenue has adopted a new rule on tax credits for wind or solar energy systems, among other tax-related items, DOR’s Executive Counsel Tim Barfield announced Jan. 22. The new rule for wind or solar energy systems amends Louisiana Administrative Code 61:I.1907 by clarifying the application of the credits for taxpayers who purchase and install such systems. To qualify for the tax credit, expenditures for wind or solar energy systems must be made on or after Jan. 1, 2008; the amount of the credit is equal to 50 percent of the first $25,000 of the system cost. ...