Thinking about a Zero or the like?
Today, Congress took action to extend several tax credits, and among them were credits for EV charging infrastructure, fuel cell vehicles and electric motorcycles.
A lot of people know about the $7,500 federal tax credit for electric vehicle purchases, but there are a number of other incentives available to EV buyers which help to offset initial costs. These include today’s newly-extended 30% rebate (up to $1,000) on costs associated with the installation of an EV charging station, a 10% credit (up to $2,500) on 2- or 3-wheeled electric vehicles such as electric motorcycles, and a $4,000 credit for the purchase of a new fuel cell vehicle.
These credits had previously expired at the end of 2016, and today were extended retroactively through the end of 2018. Anyone who purchased an electric motorcycle, a fuel cell vehicle, or spent money on a charging installation in 2017 or who does any of those things in 2018 can qualify for these credits on their 2017 or 2018 tax return.