Equipment Qualifies for Tax Credit

The State of New York has passed the S7909 Wright tax law. This act will take effect immediately and applies to heating systems installed on or after July 1st 2006 and before July 1st 2007. To be eligible for this credit you must be replacing an existing system in a primary residence within New York State. To be eligible the equipment must be labeled with an energy star label. The Credit is for 50% of the cost of the replacement, up to $500. This law can also apply to a home owned by more than one person. In that case the tax credit is divided amongst the owners according to how much they paid towards the system. If the amount of the credit exceeds the taxpayer’s tax for the year the additional amount is treated like an overpayment and is either credited or refunded according to the tax law. Yaun Company stocks the following models that carry the Energy Star label so you can be eligible for this credit. Axeman-Anderson Boilers · Olympia I compact oil fired, one-piece heavy steel construction available for direct vent or standard chimney venting, 85.5% AFUE Miller/Nordyne 90+ High Efficiency Gas Furnaces Peerless Boilers · Pinnacle stainless steel construction, gas fired, sealed combustion, direct vent, 92% AFUE · EC/ECT cast iron construction, oil fired, 83.7%-86.2% AFUE · WV-DV AND WBV-WV cast iron construction, oil fired, 86.1% AFUE RUUD 90% Gas Furnaces UGRK, UGRA, UGTA, UGFD Viessmann Boilers · Vitorond 100, oil fired, cast iron heat exchanger, 86.9% AFUE · Vitola 200, oil/gas fired, cast iron and steel construction, oil AFUE 87%, gas AFUE 85% · Vitodens 200, gas fired, wall mounted, stainless steel heat exchanger, AFUE 94.2% Weil-McLain Boilers · Gold Series gas fired 87.5% AFUE · Gold Series oil fired 85 – 86.4% AFUE For more information about this change, contact your tax preparer or go to web site look at Bill #S7909.