Alternative Fueled Vehicle Charging Station Credit

Summary

This law allows a credit toward the corporate income tax in the amount of 50% of the cost of: 1) cost of construction of filling stations or improvements to existing stations which allow that station to provide CNG, LNG, or LPG (propane); 2) equipment used to convert vehicles to run exclusively on one of these fuels or electricity, or on one of these fuels and some other fuel; and 3) equipment used in a CNG, LNG, or LPG filling station, or an electric recharging station, for vehicles powered by a clean alternative fuel. Clean alternative fuel is defined to mean CNG, LNG, LPG or electricity. There is no limit to the total amount of the credit, which if greater than the total amount of taxes due in one year, may be carried forward for up to three years. The credit applies to income years beginning after January 1, 1994 and prior to January 1, 2001. Connecticut also offers sales tax exemptions for the equipment listed above.