The Nonbusiness energy property tax credit, in the United States, provides a nonrefundable personal tax credit for Federal income tax purposes, for making a home more energy efficient. (Unlike a deduction, which lowers taxable income, a tax credit reduces the actual tax paid, dollar-for-dollar.) This credit was added to the Internal Revenue Code by the Energy Policy Act of 2005.
Read more about Nonbusiness Energy Property Tax Credit: Credit, Eligibility, Limits, Termination of Credit
Famous quotes containing the words energy, property, tax and/or credit:
“I say, stamping the words with emphasis,
Drink from here energy and only energy,”
—Stephen Spender (19091995)
“As a man is said to have a right to his property, he may equally be said to have a property in his rights.”
—James Madison (17511836)
“...many tax collectors and sinners were also sitting with Jesus.”
—Bible: New Testament, Mark 2:15.
“Bless my soul, Sir, will you Britons not credit that an American can be a gentleman, & have read the Waverly Novels, tho every digit may have been in the tar-bucket?”
—Herman Melville (18191891)