Clean-Fuel Vehicles and Refueling Property Credit (Virginia)
Last modified on May 24, 2011.
Financial Incentive Program
|Name||Clean-Fuel Vehicles and Refueling Property Credit|
|Incentive Type||Corporate Tax Credit|
|Eligible Technologies||Renewable Fuel Vehicles|
|Energy Category||Renewable Energy Incentive Programs|
|Program Administrator||Virginia Department of Taxation|
Virginia offers companies a tax credit equal to 10% of the deduction allowed under Section 179A of the federal Internal Revenue Code for (1) purchases of clean-burning fuel vehicles used principally in-state, and (2) certain refueling property--related to clean-burning fuels--placed in service in Virginia. If the credit exceeds a company's tax liability for year, the credit may be carried forward for up to five succeeding years. Businesses must qualify for the federal deduction in order to receive the Virginia credit.
According to federal law, the term "clean-burning fuel" includes natural gas, liquefied natural gas, liquefied petroleum gas, hydrogen, electricity, and "any other fuel at least 85 percent of which is one or more of the following: methanol, ethanol, any other alcohol, or ether."
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Va. Code § 58.1-438.1|
|Authority 2:||26 USCS § 179A|
|Contact Name||Taxpayer Assistance - Virginia|
|Department||Virginia Department of Taxation|
|Address||PO Box 1880|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.