How do I calculate the Geothermal Energy Device Credit?
Note: In 2025, North Dakota only allows unused Geothermal Energy Device Credit carryforwards from an installation on or after January 1, 2009, and before January 1, 2015.
The credit is equal to 3% of the cost of acquisition and installation and is allowed in each of the first five tax years starting with the year in which installation is completed. Any unused portion of the credit from prior years may be carried over and used on subsequent returns for up to 10 years.
If an individual, estate, or trust holds an interest in a pass through entity, such as a partnership or S corporation, that installs a geothermal energy device after December 31, 2008, and before January 1, 2015, the credit is passed through to the individual, estate, or trust in proportion to its interest in the entity.
The credit is equal to 3% of the cost of acquisition and installation and is allowed in each of the first five tax years starting with the year in which installation is completed. Any unused portion of the credit from prior years may be carried over and used on subsequent returns for up to 10 years.
If an individual, estate, or trust holds an interest in a pass through entity, such as a partnership or S corporation, that installs a geothermal energy device after December 31, 2008, and before January 1, 2015, the credit is passed through to the individual, estate, or trust in proportion to its interest in the entity.
