(North Dakota) Geothermal Tax Credit
North Dakota offers an income tax credit to individuals, estates and trusts for the cost of acquiring and installing a geothermal energy system in a building or on property owned or leased by the taxpayer in North Dakota. For systems installed after December 31, 2008, and before January 1, 2015, the credit is equal to 3% per year for five years of the actual cost of acquisition and installation of the system. Any excess may be used as a credit carryover to each of the 10 succeeding taxable years.
If the taxpayer holds an interest in a pass-through entity (such as a partnership or S-corporation) that installs a geothermal system, the credit is passed through to the taxpayer in proportion to its interest in the entity.
|Incentive Type:||Personal Tax Credit|
|Eligible Renewable/Other Technologies:||Geothermal Electric, Geothermal Heat Pumps, Geothermal Direct-Use|
|Applicable Sectors:||Residential, Estates, Trusts|
|Amount:||15% (3% per year for five years)|
|Maximum Incentive:||Not specified|
|Eligible System Size:||Not specified|
|Carryover Provisions:||Excess credit may be carried over to each of the 10 succeeding taxable years|
|ND Century Code 57-38-30.3