Form It-255 - Claim For Solar Energy System Equipment Credit - 2011 Page 2
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2IT-255 (2011) (back)
General information
Line instructions
Tax Law section 606(g-1) allows a credit for the purchase and
See the instructions for your tax return for the Privacy notification or if
installation of an eligible solar energy system. Subject to certain limits,
you need help contacting the Tax Department.
the credit is 25% of the qualified solar energy system equipment
expenditures for the purchase and installation of a system that uses
Schedule A — Computation of solar energy system
solar radiation to produce energy for heating, cooling, hot water, or
equipment credit
electricity for residential use. The equipment must be installed and used
Column B — If you are a tenant-shareholder in a cooperative
at the taxpayer’s principal residence in New York State and must be
housing corporation or condominium owner, enter your share of the
placed in service on or after January 1, 2006.
qualified expenses incurred by the cooperative housing corporation
If the solar energy system equipment produces electricity, you must
or condominium management association. This information should
enter into a net energy metering contract with your electric corporation
be provided to you by the cooperative housing corporation or
or comply with the electric corporation’s net energy metering schedule
condominium management association.
before you can qualify for the credit. The completed solar energy
Line 1 — If you occupied a principal residence with another taxpayer
system equipment must also be connected to the electric corporation’s
or taxpayers, the amount of credit allowable to each taxpayer is
transmission and distribution facility. Other conditions and limitations
prorated according to the percentage of the total eligible expenditures
set by the electric company may also apply. You should contact your
contributed by each taxpayer. However, a married couple filing a joint
electric company for more information before you purchase your
return does not prorate the credit.
equipment.
Enter the total credit on line 1 and see the instructions for line 7.
If your credit is greater than the amount of tax you owe, the balance will
not be refunded to you. However, any credit amount in excess of the
Schedule B — Application of credit and computation
tax due can be carried over for a maximum of up to five years.
of carryover
Definitions
Line 4
Solar energy system equipment means an arrangement or combination
Form IT-201 filers: Enter the tax from Form IT-201, line 39, plus any
of components utilizing solar radiation, which, when installed in a
amount from Form IT-201-ATT, line 21.
residence, produces energy designed to provide heating, cooling, hot
water, or electricity. The arrangement or components do not include
Form IT-203 filers: Enter the tax from Form IT-203, line 46, plus any
equipment connected to solar energy system equipment that is a
amount from Form IT-203-ATT, line 20.
component of part or parts of a nonsolar energy system or which uses
Line 5 — If you are applying any credits against the tax before this
any sort of recreational facility or equipment as a storage medium.
credit, enter those amounts here.
Solar energy system equipment that generates electricity for use in
a residence must conform to the applicable requirements in Public
When applying credits, use the following rules:
Service Law section 66-j. However, if the solar energy system is
• First apply any household credit.
purchased and installed by a condominium management association
• Next apply any credits that cannot be carried over or refunded.
or a cooperative housing corporation, the rated capacity of the system
cannot exceed fifty kilowatts (50,000 watts).
• Then apply any credits that can be carried over for a limited duration.
Qualified solar energy system equipment expenditures mean
• Then apply any credits that can be carried over for an unlimited
expenditures for the purchase of solar energy system equipment that
duration.
is installed and used at residential property located in New York State
• Apply refundable credits last.
that is your principal residence at the time the solar energy system
Line 7 — If your total credits from all sources are $2 million or
equipment is placed in service.
less, enter the amount from line 7 on Form IT-201-ATT, line 5, or
Qualified expenditures include expenditures for materials, labor costs
Form IT-203-ATT, line 6.
properly allocated to on-site preparation, assembly and original
If your total credits from all sources are more than $2 million, you may
installation, architectural and engineering services, and designs and
be subject to a credit deferral. See Form IT-500, Income Tax Credit
plans directly related to the construction or installation of the solar
Deferral, to determine the proper amount of line 7 to enter on your tax
energy system equipment.
return.
Expenditures made with nontaxable federal, state, and local grants and
Special rule if you occupied your principal residence with another
any interest or finance charges do not qualify as solar energy system
taxpayer or taxpayers. Use only your share of the line 3 amount when
equipment expenditures.
comparing line 3 to line 6. Also attach a statement showing the name of
In the case of tenant-shareholders in a cooperative housing corporation
each taxpayer occupying the residence and claiming the credit, and the
or condominium owners, a percentage of the qualified expenditures for
total expenditures contributed by each.
qualified solar energy system equipment purchased and installed by
Example: You and your father occupy the same residence. You each
the cooperative housing corporation or the condominium management
pay one-half of the cost of the solar energy system equipment. You must
association will be attributed to each unit within the building. This
claim one-half of the total credit on your New York State return and your
information should be provided to you by the cooperative housing
father would claim the other half of the credit on his New York State
corporation or condominium management association.
return. You must each file Form IT-255 showing the computation of the
Principal residence means the home where you and your family live
total credit and attach the statement described above.
most of the time. A summer or vacation home does not qualify. Your
Line 8 — If you occupied your principal residence with another taxpayer
principal residence can be a house, whether owned or rented, a mobile
or taxpayers, subtract line 7 from your share of the line 3 amount.
home, cooperative apartment, or condominium. If you move from one
principal residence to another principal residence in New York State, a
Line 9 — A credit amount in excess of the tax due can only be carried
separate credit is allowed for each principal residence. You must have
over for a maximum of up to five years. Enter any expired credit amount
incurred the costs at the time the residence is your principal residence,
on this line.
and you must file separate Forms IT-255 to compute your allowable
credit for each principal residence.
2552110094
Please file this original scannable credit form with the Tax Department.
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