Federal EV Charging Stations Tax Credits to Expire
Posted by admin on Dec. 20, 2013 / Electric Vehicles, Tax Incentives / Subscribe 0
Tax Credits’ Expiration Dates on Electric Vehicles and Charging Stations
The tax credit that covers 30% of the cost of the installation of an electric vehicle charging station is set to expire as of Dec. 31, 2013. The tax credit was renewed for 2013 as part of a Jan. 1 legislation package, and its renewal is uncertain. The credit covers 30% of the station’s cost or $1,000 for personal fueling stations and 30% or up to $30,000 for business use.
The tax credits for the purchase of an electric vehicle also have expiration dates based upon the production of the vehicles. After the manufacturer produces 200,000 eligible plug-in electric vehicles, the credit begins to phase out for vehicles at the beginning of the second calendar quarter from the date of which it was introduced. The IRS will announce the phase out schedule when a manufacturer exceeds this production.
For more information on Federal Laws and Incentives on electric vehicles, visit: http://www.afdc.energy.gov/laws/laws/US/tech/3270
http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-(IRC-30-and-IRC-30D)
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