Louisiana’s once promising solar power industry is on the ropes, as thousands of solar system owners continue to reel from a retroactive state statute that left them each owing as much as $12,500 in installation costs. While legislation could be introduced this spring to reimburse the owners, solar installers feel their industry is irreparably damaged.
From TheInd.com (ABiz / Acadia Business)
For years Louisiana has offered tax credits to residents who purchased solar panels for their homes. However, in mid-2015, the Louisiana Legislature and the Louisiana Department of Revenue determined that there was not enough money in the budget to fund the solar tax credits.
11/22/16 UPDATE for Louisiana Hardship License: Per recent news reports, the Louisiana Department of Motor Vehicles plans to reverse it's "no cash" policy on most transactions effective as soon as December 1st. Once effective, cash can again be used for driver's licenses, vehicle registrations, and titles but NOT for reinstatement fees. As the DMV works through this change, we recommend bringing check/money order until it's clear as to whether this Hardship License constitutes a "reinstatement" or not.
In the aftermath of “The Great Flood of 2016”, we at Bryson Law Firm, LLC have been busy both inside and outside the office doing what we can to help our clients- our employees- our friends- our community- rebuild in the midst of such LOSS. Ever-looking at things from a tax perspective, people who’ve suffered such a LOSS should keep in mind that much of those losses can be tax deductible.
For years Louisiana has offered tax credits to residents who purchased solar panels for their homes. However, in mid-2015 the Louisiana legislature and the Louisiana Department of Revenue (LDR) determined that there was not enough money in the budget to fund the solar tax credits. So, the legislature decided to place a funding "cap" on the total amount of credits that the state will honor each year between now and 2017. The "cap" has resulted in the denial or deferment of payment of the solar tax credits to thousands of Louisiana taxpayers who are now left confused, frustrated . . . and frankly down right angry!