If you missed the state tax credit auction in November, you'll get another chance to bid in December.The Oregon departments of Energy and Revenue are re-opening the auction so that more taxpayers can bid on the nearly $1.1 million in tax credits remaining. Bidding starts tomorrow ((December 1)) at 9 a.m. Pacific Time and runs through 5 p.m. PT, December 9.
The auction is open to individuals and to businesses that will owe tax when they file their 2011 Oregon tax return. The credits will reduce the amount of tax they'll owe. Unused portions may be carried forward for up to three years.
Here's how it works: The tax credits are available in $1,000 increments. Minimum bid is $950. Place your bid online at www.oregon.gov/dor.
To complete your bid, you must submit your payment so that it reaches the Department of Revenue by 5 p.m. PT, December 16, 2011. If you don't submit payment, your bid won't count.
If you're a winning bidder, the Oregon Department of Energy will issue a credit certificate.
The money raised in the auction will help support local renewable energy projects including biomass, solar and geothermal.
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