Updated 30C Tax Credit: Expanded Benefits for Electric Vehicle Charging Stations
Increased Accessibility: Individual Charger Installations Now Qualify for 30C Tax Credit
According to Electrek, during tax season the US Treasury Department has updated the rules for a tax break called the 30C tax credit. The 30C tax credit helps Americans and businesses save money on electric vehicle (EV) charging stations. The change means that now instead of only getting the tax break for each place with a charger you can get it for each individual charger you install making it easier for more Americans to qualify.
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30C Tax Credit: Enhanced Incentives for Electric Vehicle Charging Infrastructure – Are You Eligible? (PHOTO: E&E News)
Targeted 30C Tax Credit: Electric Vehicle Charging Stations in Lower-Income or Non-Urban Areas
To qualify for the 30C tax credit on electric vehicle charging stations you must be in an “eligible census tract” with lower incomes or in non-urban areas. About two-thirds of Americans live in these spots. While some worry the rules for the 30C tax credit are unfair because qualifying areas seem random others see the 30C tax credit as crucial for promoting electric car use. It’s smart to consult a tax expert before claiming the break to ensure you do it correctly.
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