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Tax Credits Available for Oil Delivery Customers

The oil in your tank is about to put dollars in your pocket, thanks to the New York Refundable Clean Heating Fuel Tax Credit and your friends at Hunts Point Fuel. All you have to do to claim your credit is fill out Form IT-241 and submit it along with your regular income tax return form (IT-201 for homeowners).

You'll notice that in addition to purchase dates (Column A), and gallons of Bioheat purchased (Column B), the form asks for the percentage of biodiesel per gallon of Bioheat (Column C). We sell B2, which is comprised of 2% biodiesel, so you’ll enter .02 in Column C.

Let’s say you purchased 800 gallons of Bioheat from us throughout the year; 800 x .02 = 16, giving you a Clean Heating Fuel Credit of $16.

Every cent counts during tax season, so if you have any questions about your heating oil bill, please do not hesitate to call or contact us. Remember, though — we're home comfort providers, not accountants, so if your question is about taxation and finance, please consult your tax professional.

Click here to view the NY State Form IT-241
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