Tax time is upon us! While that’s nobody’s favorite time of year, there’s some good news for eastern Long Island households that receive heating oil from Burt’s Reliable.
Burt’s is the only company on the North Fork delivering ultra-low-sulfur Natural Heating Oil® with a B20 blend. This heating oil uses 20% biofuel produced from organic and recycled products. Bioheat, as this fuel is also known, burns much cleaner, reducing both greenhouse gas emissions and wear and tear on your equipment.
As if that’s not exciting enough, using this heating oil also entitles you to the New York State Clean Fuel Tax Credit!
New York State has set ambitious goals to become a leader in clean energy. The state’s ambitious goal is to lower greenhouse gas emissions by 40% by 2030. To that end, they have offered residents a tax incentive to heat their homes with renewable energy.
The NY State Clean Fuel Credit applies to state income taxes. It’s determined by the amount of Bioheat fuel you purchased for the year, with the credit calculated at $.01 per percentage point of biodiesel in your Bioheat heating oil blend.
Since Burt’s Reliable delivers a B20 blend heating oil, a Burt’s customer would receive a $0.20 tax credit for each gallon of heating oil purchased in 2021. If you ordered 750 gallons, that works out to a $150 credit on your NY income tax return!
We send our customers an annual usage statement at the beginning of each calendar year. This document lists all the prior year’s deliveries and gallons delivered. If you haven’t received your Burt’s Reliable statement already, you should get it shortly.
With this statement, you can apply for your Clean Fuel Tax Credit!
If you aren’t already receiving B20-blend Natural Heating Oil, you’re missing out on an efficient, clean-burning energy source and a fantastic tax benefit too. Burt’s Reliable would love to become the heating oil supplier for your North Fork and East End home. Become a customer today!