EV Charging Station Tax Credit Restored
Did you purchase an Electric Vehicle charging station in 2012?
The American Taxpayer Relief Act of 2012, recently passed by Congress, restores the 30% federal tax credit for electric vehicle charging station equipment and installation.
Happily, the extension applies retroactively to cover all alternative fuel infrastructure put into service in 2012, including installation of fueling equipment for plug-in electric vehicles.
The tax credit is subject to a $1,000 dollar cap on personal-use installations, and expires on December 31, 2013.
Electric vehicle sales tripled in 2012 and are expected to continue this rapid pace in 2013. New models are being introduced.
This tax credit provides 2012-2013 buyers significant tax savings. Happy New Year!