Fuel Tax Credit Extended For Propane Vehicles

By Mike Brezonick13 April 2020

The Propane Education & Research Council (PERC) is encouraging propane autogas fleet operators to take advantage of the Alternative Fuel Tax Credit, which was recently passed by the U.S. Congress as part of the Further Consolidated Appropriations Act, 2020.

Propane autogas fleet operators who apply for the tax credit will be able to claim a credit for every gasoline gallon equivalent of propane purchased, or about 37 cents per gallon. The bill not only extends the credits through Dec. 31, 2020, but fleet owners can also apply for credits retroactively for any fuel purchases made in 2018 and 2019. While April is typically tax month, companies now have until July 15 to file.

 The new law also retroactively extends the Alternative Fuel Vehicle Refueling Property Credit, which allows operators to claim up to 30% or $30,000 of the cost of installing qualified alternative fuel vehicle refueling property, including propane autogas refueling equipment.

Qualifying fleets can learn more about how to apply for these credits through this fact sheet from the National Propane Gas Association. PERC encourages all vehicle operators to consult their own tax advisers first regarding any claims for credits or refunds.

 For more information about propane autogas vehicles, visit Propane.com.

MAGAZINES
Latest News
Cummins’ Darlington, UK factory reaches production milestone
The plant has manufactured its 1.5 millionth Mid-Range engine
Cummins names Wiltrout VP of Corporate Strategy
Has served in a variety of roles in 12 years at the company
Rolls-Royce and Claas extend engine supply contract
The mtu engines will be used across a range of large agricultural machinery