Did you purchase a charging station for your electric car in 2018 or 2019?
Or do you plan to buy one in 2020? If so, we have great news for you!
Congress recently passed a retroactive federal tax credit for those who purchased environmentally responsible transportation, including costs for EV charging infrastructure.
Receive a federal tax credit of 30% of the cost of purchasing and installing an EV charging station (up to $1,000 for residential installations and up to $30,000 for commercial installations) with the retroactive credit.
Previously, this federal tax credit expired on December 31, 2017, but is now retroactively extended through December 31, 2020.
In addition to the tax credit, there is also a sales tax waiver on the purchase of the charging station and any installation costs of the infrastructure to supply the charging station. Need to upgrade your circuit breaker panel in order to accommodate the additional load of charging your vehicle? Any work done that is necessary for the charging station operation is exempt from sales tax, saving you 10% of the total cost.