Alternative Fuel Vehicle Credit - Corporate

Summary

Georgia offers a tax credit for the purchase or lease of a new low-emission vehicle or zero-emission vehicle that is registered in the state. The amount is $2,500 per new low-emission vehicle and $5,000 per new zero-emission vehicle. Georgia also allows a credit for the conversion of a conventionally fueled vehicle to a converted vehicle that is registered in the state. The amount of this credit is equal to the cost of conversion, with a maximum credit of $2,500 per converted vehicle. Furthermore, a tax credit is available to any business enterprise for the purchase or lease of each electric vehicle charger that is located in Georgia. The amount of this credit is $2,500 per charger. The amount of any tax credit offered cannot exceed a taxpayer’s income tax liability. All claims for any credit must be accompanied by a certificate approved by the Environmental Protection Division of the Georgia Department of Natural Resources. Any credit claimed but not used in any taxable year may be carried forward for five years from the close of the taxable year in which a new clean-fueled vehicle was purchased or leased, or a conventionally-fueled vehicle was changed into a converted vehicle. By definition, "clean-fueled vehicles" utilize motors certified by the Environmental Protection Agency to meet, for any model year, a set of emission standards that classifies it as a low-emission vehicle or zero emission vehicle. "Zero-emission vehicles" have zero tailpipe and evaporative emissions as defined under rules and regulations of the Georgia Board of Natural Resources applicable to clean fueled vehicles. Electric vehicles are generally qualify as zero-emission vehicles. "Low-emission vehicles" are fueled solely by an alternative fuel, including methanol, denatured ethanol, and other alcohols; mixtures containing 85 percent or more by volume of methanol, denatured ethanol, and other alcohols with gasoline or other fuels; natural gas; liquefied petroleum gas; hydrogen; coal-derived liquid fuels; fuels other than alcohol derived from biological materials; and electricity, including electricity from solar energy.