Tax Breaks Back For Electric-Car Charging Stations, Natural-Gas Cars, Through End Of Year

It's the end of another Congressional session, which means that a budget extension bill has now been rushed through and is likely to be signed.

Called The Tax Increase Prevention Act of 2014 (H.R. 5771), it contains special provisions, rule tweaks, and concessions for many, many, many different constituencies.

It extends more than 50 provisions of the tax code that expired at the end of 2013 or this year--and there's good news for green-car advocates buried in the fine print.

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Congress has now extended the tax credit for installation of electric-car charging stations through the end of 2014. (A charging station is technically known as Electric Vehicle Supply Equipment, or EVSE.)

Individuals can deduct 30 percent of the cost of purchasing and installing an EVSE up to $1,000, according to Jay Friendland, Plug-In America's senior policy adviser.

Businesses can deduct the same 30 percent, but up to $30,000.

The tax credit applies to any system placed into service by December 31--that's 12 days from now, so shop today--and is retroactive to January 1 of this year.

Language specifying the credit is contained in the Alternative Refueling Tax Credit section of IRS Section 30(C).

Advocacy groups had also sought the restoration of a tax credit applying to the purchase of an electric motorcycle; that provision did not survive into the final bill.

ALSO SEE: Will Georgia's $5,000 Electric-Car Tax Credit Be Axed In 2015?