Buried within the American Taxpayer Relief Act of 2012 was an extension of the tax credits for alternative fuel vehicle refueling property, more commonly known as electric vehicle supply equipment (EVSE). The credit expired on December 31, 2011, but was reinstated and extended through December 31, 2013.
So what does this mean?
Any auto dealer that purchases and installs an EVSE charging unit(s) before December 31, 2013 will be eligible for a tax credit of 30% of the cost, not to exceed $30,000. Fueling station owners who install the qualified equipment at multiple sites are allowed up to the maximum $30,000 credit toward each location.
For consumers, EVSE home charging units installed before December 31, 2013 will be eligible for a tax credit of 30% of the cost, not to exceed $1,000.
As plug-in electric vehicles continue to become more popular, this tax credit is a nice incentive for both auto dealers and consumers when installing electric charging stations.
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