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<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>File was rejected ... because I
added the SEIA Tax guide. Contact me or go to seia.org if you want
the tax guide. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
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<p class=MsoNormal><font size=3 color=navy face="Times New Roman"><span
style='font-size:12.0pt;color:navy'><img width=69 height=58 id="_x0000_i1029"
src="cid:image002.jpg@01C925A4.E3A81EC0"> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>Paul N. Israel, President<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'><a href="mailto:paul@sunlightsolar.com">paul@sunlightsolar.com</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'><a href="http://www.sunlightsolar.com/">www.sunlightsolar.com</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>541/389-3480 (<st1:place w:st="on"><st1:State
w:st="on">Oregon</st1:State></st1:place>)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>203/878-9123 x103 (CT)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>860/617-6527 (Cell)</span></font><font
size=2><span style='font-size:10.0pt'><o:p></o:p></span></font></p>
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<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:Tahoma;font-weight:bold'>From:</span></font></b><font size=2
face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'> Paul Israel
[mailto:paul@sunlightsolar.com] <br>
<b><span style='font-weight:bold'>Sent:</span></b> Friday, October 03, 2008
9:20 PM<br>
<b><span style='font-weight:bold'>To:</span></b> 'RE-wrenches'<br>
<b><span style='font-weight:bold'>Subject:</span></b> RE: [RE-wrenches] :
Renewable Energy Production Tax Credits andInvestment Tax Credits Extended</span></font><o:p></o:p></p>
</div>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'>Kirpal,<o:p></o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'>Q. </span></font></b>Anyone
know if the tax credit is able to be carried forward if not able to consumed
entirely in one year?<b><font face=Arial><span style='font-family:Arial;
font-weight:bold'> <o:p></o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'>On the Commercial
side here is the SEIA Tax Manual “bible” passage.<o:p></o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial;font-weight:bold'>7.2 Carryback and
Carryforward of Credits<o:p></o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>A commercial solar tax credit that a
taxpayer cannot use because of the floor can be<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>carried back one year and forward 20
years. However, it appears that only 10% of the<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>30% solar credit can be carried back
before 2006. The remaining 20% of solar credits<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>arising in 2006 cannot be carried
back. If a taxpayer ends up carrying unused energy<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>credits forward for 20 years and is
still unable to use them, the unused credit can be<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>exercised in the year after the
carryforward period ends. However, only half the credit<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>can be used in this situation - the rest is lost.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>The Residential is “amorphous”
at best. Probably best to use it in the year earned.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><b><font size=4 face=Arial><span
style='font-size:14.5pt;font-family:Arial;font-weight:bold'>6. Project Timing
Issues, Transition Issues, Progress Expenditures<o:p></o:p></span></font></b></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>Unlike the commercial solar tax
credit, the residential credit is a new credit beginning in<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>2006. The residential credit rewards
spending on solar equipment for the home during<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>2006 and 2007. The full tax credit
basis for the residential credit becomes eligible in the<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>year that installation of the
equipment is completed; there is no provision for credits<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>against progress payments, as
described in Section 5.2 of the commercial credit<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>section. Thus, it is important for
the installation to be completed by December 2007.<o:p></o:p></span></font></p>
<p class=MsoNormal style='text-autospace:none'><font size=3 face=Arial><span
style='font-size:12.0pt;font-family:Arial'>Since individuals tend to use cash
accounting for payment of taxes, it would be a good<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face=Arial><span style='font-size:12.0pt;
font-family:Arial'>idea for an individual to also have paid for the equipment
by December 2007.</span></font><font size=2 color=navy face=Arial><span
style='font-size:10.0pt;font-family:Arial;color:navy'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>
<div>
<p class=MsoNormal><font size=3 color=navy face="Times New Roman"><span
style='font-size:12.0pt;color:navy'><img border=0 width=69 height=58
id="_x0000_i1026" src="cid:image001.jpg@01C9259D.C62A1670"> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>Paul N. Israel, President<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'><a href="mailto:paul@sunlightsolar.com">paul@sunlightsolar.com</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'><a href="http://www.sunlightsolar.com/">www.sunlightsolar.com</a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>541/389-3480 (<st1:place w:st="on"><st1:State
w:st="on">Oregon</st1:State></st1:place>)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>203/878-9123 x103 (CT)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Times New Roman"><span
style='font-size:10.0pt;color:navy'>860/617-6527 (Cell)</span></font><font
size=2><span style='font-size:10.0pt'><o:p></o:p></span></font></p>
</div>
<div>
<div class=MsoNormal align=center style='text-align:center'><font size=3
face="Times New Roman"><span style='font-size:12.0pt'>
<hr size=2 width="100%" align=center tabindex=-1>
</span></font></div>
<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:Tahoma;font-weight:bold'>From:</span></font></b><font size=2
face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'>
re-wrenches-bounces@lists.re-wrenches.org
[mailto:re-wrenches-bounces@lists.re-wrenches.org] <b><span style='font-weight:
bold'>On Behalf Of </span></b>Kirpal Khalsa<br>
<b><span style='font-weight:bold'>Sent:</span></b> Friday, October 03, 2008
6:40 PM<br>
<b><span style='font-weight:bold'>To:</span></b> RE-wrenches<br>
<b><span style='font-weight:bold'>Subject:</span></b> Re: [RE-wrenches] :
Renewable Energy Production Tax Credits andInvestment Tax Credits Extended</span></font><o:p></o:p></p>
</div>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
<div>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>Big relief to have that bill pass......<br>
Anyone know if the tax credit is able to be carried forward if not able to
consumed entirely in one year?<br>
Thanks!!!<br>
Cheers,<br>
<br>
<br>
<br>
-- <br>
Sunny Regards,<br>
Kirpal Khalsa<br>
NABCEP Certified Solar PV Installer<br>
Renewable Energy Systems<o:p></o:p></span></font></p>
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