State & Federal Tax Incentives
Improve the energy efficiency and sustainability of your home and take advantage of some great tax incentives that will reward you for doing the right thing. Louisiana has a tax credit available for homes retrofitting their existing roof to be a FORTIFIED Roof, and the federal government offers tax credits for home energy efficiency improvements.
Louisiana Storm Mitigation Incentive Program
Up To 50% Louisiana State Income Tax Deduction for a Retrofit FORTIFIED Roof
The legal language: Louisiana Revised Statute 47:293(2) provides an individual income tax deduction equal to fifty percent of the cost paid or incurred on or after January 1, 2007, for taxpayers who voluntarily retrofit an existing residential structure that is the taxpayer’s primary residence to bring it into compliance with the State Uniform Construction Code.
The retrofitting costs must be reduced by the value of any other state, municipal, or federal-sponsored financial incentives and the total amount of the deduction may not exceed $5,000 per retrofitted residential structure.
To qualify for the deduction, the taxpayer must claim the homestead exemption for ad valorem tax purposes for the residential structure and the retrofitting must bring the existing residential structure into compliance with the State Uniform Construction Code.
Please consult with your accountant or tax preparer to ensure that all of your tax deduction forms and paperwork are completed correctly.
For more information, please download Louisiana Revenue Information Bulletin No. 09-007 – Click Here
Contact Us For More Information About Spray Foam Insulation & FORTIFIED Roofs
Federal Tax Incentives
Up To $1200 Tax Credit For Home Energy Efficiency Improvements
The Federal Government has a tax credit program called the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit. This program provides tax credits equal to 30% of the sum of amounts paid by the taxpayer for certain qualified expenditures, including qualified energy efficiency improvements installed, residential property expenditures, and home energy audits performed during the year.
That’s right, you can get up to $1200 tax credit for making your home more energy efficient. But, make sure to consult with your accountant or tax preparer to ensure that your Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit are filed correctly.
For more information, please download the IRS document FS-2022-40 – Click Here
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