Electric Vehicle Charge Station Tax Credit Extended...Sorta
Updated: Oct 25, 2020
The least you can do.
Ever heard that saying? It has likely been misapplied ever since it was created. The least you could do is the bare minimum. If you're looking for a definition, look no further than Congress' most recent effort to stave off a government shutdown.
Buried deep in the herculean bill is a small provision that retroactively extends the federal tax credit for electric vehicle charge stations, for stations installed in 2017. Yes, Congress let this tax credit expire in 2016, and didn't get around to extending the 2017 credit until two months into 2018.
So if you installed an EV charge station (or electric vehicle service equipment, EVSE, in industry parlance) in 2017, you may have been surprised to learn that, at the time that, you didn't qualify for a tax credit. Those same folks are now qualified to apply up to 30% of the cost, up to a maximum $1,000, for the installation costs of new EVSE. Right at the exact same time that folks are using TurboTax or their favorite EZ form...which likely doesn't have this tax credit for 2017 factored in.
While this is better than having no EVSE tax credit at all - but not by much. EVSE tax credits are likely worth a few million dollars - a small cost to support a growing American industry. The EVSE market is rapidly growing and expanding - there are now many EVSE options to customers, thanks in part to the federal tax credit.
Additionally, Louisiana evidently has an individual and business tax credit, for up to 36% of the cost of a new EVSE. That incentive is meant to sunset in mid-2018.
So if you're looking to install a new electric vehicle charge station, I'd recommend doing it soon. And then writing your Congressman to ask that they extend the EVSE tax credit to include your new purchase.
It's the least you could do.