Colorado DOR Releases Income, Sales Tax Form DR 1322, Instructions Regarding Heat Pump Credit

The Colorado Department of Revenue April 26 released Form DR 1322, Heat Pump System or Heat Pump Water Heater Eligibility Certification and Assignment Election, along with line-by-line instructions, for individual income, corporate income, trust income, and sales and use tax purposes. Colorado allows an income tax credit to building owners who install certain types of heat pump systems or heat pump water heaters into residential or commercial buildings in the state. The state also allows a sales tax exemption for purchases of heat pump systems and heat pump water heaters. Form DR 1322 must be used for both the income ...