Can a system owner use the credit against the Alternative Minimum Tax?
The credit can offset the tentative minimum tax of the taxpayer. If a system owner cannot use all of the credit in a single tax year, can the remainder be carried over to (a) following year(s)? If a system owner cannot use the entire amount of the residential credit in a taxable year because of insufficient tax liability in such year, the unused amount of the credit may be carried forward to and used in a succeeding taxable year (subject to similar limitations in such succeeding year.) The business small wind credit is part of the general business credit and may be carried forward 20 years. Owner and Equipment EligibilityWhat equipment qualifies for the credits? Is there any specific equipment that does not qualify? In the case of the business credit the definition of qualified property is property that uses a wind turbine with a nameplate capacity of not more than 100 kilowatts to generate electricity. The property must be constructed or erected by, or the original use of the property
