Clean heating fuel credit
- you or your business purchased bioheat to be used for space heating or hot water production for residential purposes within New York State. Bioheat purchased on or after January 1, 2017, must contain at least 6% biodiesel per gallon of bioheat to qualify for the credit.
The percentage of biodiesel included in the bioheat is the number or numbers preceded by the letter B in the bioheat designation. For example, bioheat designated B10 contains 10% biodiesel.
How much is the credit?
- The credit is equal to one cent for each percent of biodiesel per gallon of bioheat purchased before January 1, 2020. It may not exceed 20 cents per gallon.
Example: On February 1, 2017, you purchase 250 gallons of bioheat to be used for residential heating purposes within New York State. The bioheat contains 20% biodiesel (B20). The amount of credit allowed for this purchase is $50.00 ($0.20 X 250 gallons).
For additional information on claiming this credit, see:
- Form CT-241, Claim for Clean Heating Fuel Credit (for corporations); or
- Form IT-241, Claim for Clean Heating Fuel Credit, and its instructions, Form IT-241-I (for all others)