On Friday, December 17, President
Obama signed into law the $858 billion tax package that
keeps current tax rates in place and extends a series of
tax credits geared toward boosting the sluggish economy.
Included in this package was the extension of a tax credit
for biomass heating appliances that was set to expire on
December 31st.
The extension of the tax credit -
which was never certain - is good news for the hearth industry.
However, Congress did decrease the benefit to consumers
that was in place from 2009-2010 under the American Recovery
and Reinvestment Act and added further restrictions.
The new tax credit as outlined provides:
Additional
information is available on the following web sites:
On Friday, December 17, President
Obama signed into law the $858 billion tax package that
keeps current tax rates in place and extends a series of
tax credits geared toward boosting the sluggish economy.
Included in this package was the extension of a tax credit
for biomass heating appliances that was set to expire on
December 31st.
Additional
information is available on the following web sites: