solar tax credits and HOAs

Started by JimA19 • 4 replies • 326 views

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JimA19 (Georgia)
Posts: 54

Posted:

Since we dont pay fed taxes is their any way we can obtain these tax credits? I suppose NO
Jim

SheliaH (Indiana)
Posts: 6,964

Posted:

You'll need to talk to your association tax accountant about this. And maybe your attorney. It may also depend on what type of HOA this is - credits for a high rise condo may be different than what a detached home community would get

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

ElleN (Idaho)
Posts: 4,420

Posted:

Quote:

Posted By JimA19 on 01/07/2023 12:58 PM
Since we dont pay fed taxes is their any way we can obtain these tax credits? I suppose NO

The federal solar tax credit is not refundable. This means that only corporations with a federal income tax liability benefit from it. As you appear to know, it's common, but not guaranteed, for HOAs to have no federal tax liability.

Nonprofits became eligible for the credit only as of January 1, 2023. Things are changing.

KennethS2 (California)
Posts: 36

Posted:

We did a Power Purchase Agreement that allows the profit company to take the tax credit and then lower the price to the Association. There is a great deal of work to accomplished this but there are companies out there that provide the PPA. It worked out well for us in California and we did it twice for two different locations.

Ken

JimA19 (Georgia)
Posts: 54

Posted:

folks, very helpful, again thank you
jim

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