Applicants can copy the prior year’s tax credit application to use as a starting point for the current years' application. The copy feature can be accessed in one of two ways.
If you have signed on to CACTAS with the same user ID that was used to create last year's tax credit application you can copy that application by selecting the icon next to the application in the My Applications list.
If you have signed on to CACTAS with a user ID that is different from the one used to create last year's tax credit application you can copy the application by selecting the button labeled " Copy Prior Year's Application". If you use this option you will be prompted for the Application Type, Application Identifier, and Tax ID number of the application you wish to copy. The Application Identifier is in the form of RETC2017xxxx or WIND2017xxxx.
If a facility did not file a tax credit application last year the applicant must create a new application.
Answers to frequently asked questions are here: https://rew-taxcredit.iowa.gov/Faq.
Iowa Code Chapter 476B establishes a state production tax credit of 1.0¢ per kilowatt-hour (kWh) for energy generated by qualified wind energy facilities and sold or consumed on-site. The total nameplate generating capacity of all facilities qualified for the tax credits is 50 megawatts (MW). The program capacity limit has been reached. The tax credit certificates are transferrable and may be applied toward the state's individual income, corporation income, franchise, insurance program, sales and use, or replacement tax.
Iowa Code Chapter 476C establishes a state production tax credit of 1.5¢ per kWh for energy sold by eligible wind energy facilities and certain non-wind renewable energy facilities. For eligibility applications filed after July 1, 2011, tax credits are also available for on-site consumption of renewable energy from facilities with a nameplate capacity of not less than 750 kW.
To learn more about the Renewable Energy and Wind Energy Production Tax Credits, please visit the IUB site.