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This version of the form is not currently in use and is provided for reference only. Download this version of
Form IT-267
for the current year.
Form IT-267 Geothermal Energy System Credit - New York
What Is Form IT-267?
This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form IT-267?
A: Form IT-267 is a tax form in New York that is used to claim the Geothermal Energy System Credit.
Q: What is the Geothermal Energy System Credit?
A: The Geothermal Energy System Credit is a tax credit in New York that is available to taxpayers who have installed a geothermal energy system in their home.
Q: Who is eligible for the Geothermal Energy System Credit?
A: Homeowners in New York who have installed a geothermal energy system in their primary residence are generally eligible for the credit.
Q: How much is the Geothermal Energy System Credit?
A: The credit is equal to 25% of the costs incurred to purchase and install a geothermal energy system, up to a maximum credit of $5,000.
Q: What are the requirements to claim the Geothermal Energy System Credit?
A: To claim the credit, you must complete Form IT-267 and submit it with your New York state tax return. You will also need to provide documentation of the costs incurred for the geothermal energy system installation.
Q: Can the Geothermal Energy System Credit be carried forward or back?
A: No, the credit cannot be carried forward or back. It must be claimed in the tax year when the geothermal energy system was installed.
Q: Is the Geothermal Energy System Credit refundable?
A: No, the credit is non-refundable. It can only be used to offset your New York state tax liability.
Q: Are there any limitations or restrictions on claiming the Geothermal Energy System Credit?
A: Yes, the credit cannot exceed the taxpayer's New York state tax liability for the year. Additionally, the taxpayer must own the residence where the geothermal energy system is installed and use it as their primary residence.
Q: Is the Geothermal Energy System Credit available in Canada?
A: No, the Geothermal Energy System Credit is specific to New York state in the United States.
Form Details:
- The latest edition provided by the New York State Department of Taxation and Finance;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form IT-267 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.
