Incentives
The Department of Energy lists Federal & State Incentives and Laws for New York.
For more information please click HERE.
_______________________________________________________________________________________________
2011 Alternative Fuel Tax Incentives: Clarification
On December 17, 2010, President Obama signed H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Public Law No: 111-312). This Act extends and reinstates several alternative fuel tax credits through December 31, 2011.
Extended tax credits include:
Qualified Alternative Fuel Infrastructure Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/351
Volumetric Ethanol Excise Tax Credit (VEETC): http://www.afdc.energy.gov/afdc/laws/law/US/399
Small Ethanol Producer Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/352
Small Agri-Biodiesel Producer Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/342
The Act also reinstates several tax credits that expired after December 31, 2009:
Alternative Fuel Excise Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/319
Alternative Fuel Mixture Excise Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/417
Biodiesel Mixture Excise Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/395
Biodiesel Income Tax Credit: http://www.afdc.energy.gov/afdc/laws/law/US/396
Special Rule for 2010 Excise Tax Credit Claims:
The Alternative Fuel, Alternative Fuel Mixture, and Biodiesel Mixture Excise Tax Credits were reinstated retroactively, meaning taxpayers may submit a one-time claim for qualified fuel sold or used during the 2010 tax year. The U.S. Internal Revenue Service (IRS) has issued special guidance to allow a 180-day period for the submission of these claims. Please refer to the IRS Notice 2011-10 for additional information (http://www.irs.gov/pub/irs-drop/n-11-10.pdf).
____________________________________________________________________________
NYC Local Law #38 of 2005:
Requires that new vehicle purchases (> 14,000 GVW) are to be certified to California LEV II, best-in-class.
For more information, please click HERE
____________________________________________________________________________
Expired Incentives:
Two vehicle purchase incentives expired after December 31, 2010, and were not extended:
• Qualified Alternative Fuel Motor Vehicle Tax Credit
• Light-Duty Hybrid Electric Vehicle and Advanced Lean Burn Vehicle Tax Credit
______________________________________________________________
Renewable Energy
WindTurbines.net: Wind Powering America supporting partner with the Department of Energy’s wind energy program
_____________________________________________________________________________________
New Incentives for Natural Gas Vehicles
December, 2010: When the President Obama signed H.R. 4853 – the Middle Class Tax Relief Act of 2010 he took an important step toward reducing America’s dependence on foreign oil by extending two key incentives for natural gas vehicles. The legislation extends through 2011:
·The 50-cent per gallon tax credit for compressed and liquefied natural gas when used as a vehicle fuel. This tax credit, which expired at the end of 2009, is retroactive for 2010.
·The investment tax credit for alternative vehicle refueling property, including natural gas stations. This covers 30% of the cost or $30,000, whichever is less. This credit also includes a $1,000 tax credit for a home refueling unit.
·The natural gas vehicle tax credits, which expire at the end of the year, were not included in the legislation
Source: NGV America