We have good news for those of you who have recently installed EV charging stations, or are seriously considering installing one soon!
To save the country from driving off a “fiscal cliff,” the government extended and reinstated many tax policies; some of which benefit green energy supporters. Part of this is the reinstating of a tax credit for EV charging stations (specifically, any alternative fuel station) that had ended in 2011.
This tax credit allows business and consumers to claim up to 30% of the cost of hardware and installation. Businesses are capped at $30,000 per property and individuals are capped at $1,000. More importantly, it’s retroactive, so those of you who installed charging stations in 2012 can still reap the tax benefits this year.
You can read the specific code here.