New Jersey Offers Tax Credits to Business EV Purchases

Mar 31, 2011


The New Jersey state assembly has approved a bill (A-3651) that provides a tax credit or a gross income tax deduction for businesses that purchase electric vehicles or plug-in hybrids and a corporate business tax credit for the purchase of an electric truck or electric bus.

The bill, introduced on Jan. 26 and passed on Feb. 17, was just one of several electric vehicle initiatives approved by the assembly last week. Assemblyman Daniel Benson (D-14), said that the bill provides for both a strong environmental and economic climate.

“It is ultimately healthy for the nation,” said Benson.

You may view the bill in its entirety here.


Photo courtesy of sh4rp_i and re-used under the Creative Commons license.