An Oklahoma man says he got a $1 million federal tax break when he bought his first natural gas lamp.
Scott Hall and his wife bought the $1,000 electric light last year in New York City.
But the company that makes the lamps doesn’t pay any taxes on them, so Hall bought them in Florida.
Hall said he and his family didn’t have any trouble getting the money.
The tax credit, known as a qualified interest deduction, allows a taxpayer to claim the credit if the amount they receive in taxable income exceeds the actual value of the deduction.
Hall and his husband received the tax credit on their second $1.2 million purchase.
The family then invested the money in a home and paid a $7,500 capital gain tax credit.
The rest of the $5.7 million was paid out in dividends, he said.
Hall has not paid taxes on the $3 million he received from the state.