Thinking of opting for an electric model of some sort in the Helena area and wondering if there is any MT EV tax incentives that you may be eligible for? Currently, the state of Montana only has fundings for non-individual organizations, so if you’re buying a personal EV, you won’t be able to enjoy any of the state tax credits and incentives. However, you may qualify for the federal EV tax credit and there is many Honda specials at Honda of Great Falls. If you’re curious about what available Montana electric vehicle tax credits and incentives there are, keep on reading below!
The Montana Department of Environmental Quality (DEQ) has grants when qualified medium- and heavy-duty diesel transit buses are replaced with new all-electric, diesel hybrid, compressed natural gas, or propane shuttle or transit buses. Funding is also available for replacing school buses and airport ground support vehicles with all-electric vehicles.
Montana-based ethanol producers are eligible for a tax incentive of $0.20 per gallon of ethanol produced solely from Montana agricultural products or ethanol produced from non-Montana agricultural products when Montana products are unavailable. If the producer uses non-Montana based agricultural products, the amount of the tax incentive per gallon is reduced proportionately, based on the percentage of non-Montana based agricultural or wood products used in production. Here are other key details of this MT EV tax incentive:
The equipment used to produce ethanol from grain is exempt from state property taxes during construction of an ethanol manufacturing facility and for 10 years after the manufacturing facility construction is complete.
A licensed distributor who pays the special fuel tax on biodiesel may be able to claim a refund equal to $0.02 per gallon of biodiesel sold during the previous quarter if the biodiesel is made entirely from components produced in Montana. Also, the owner or operator of a retail motor fuel outlet may claim a refund equal to $0.01 per gallon of biodiesel purchased from a licensed distributor if the biodiesel is made entirely from components produced in the state.
Alternative fuel production facilities– including biodiesel, biomass, biogas, and ethanol production facilities– may qualify for a reduced property tax rate of 3% of market value. Renewable energy manufacturing facilities also qualify. Also, temporary property tax rate abatements are available for qualified biodiesel, biomass, biogas, and ethanol production facilities. The tax abatements are available during facility construction and for the first 15 years after the facility begins operation. The total time of the qualifying period may not exceed 19 years.
Biodiesel producers that produce biodiesel from waste vegetable oil feedstock are exempt from the state special fuel tax. Waste vegetable oil is used cooking oil gathered from restaurants or commercial food processors. Biodiesel producers must annually register with the Montana Department of Transportation and report biodiesel production and consumption by February 15 of the following year if they want to be elibile for this tax exemption.
Besides MT EV tax incentives, there is also one that’s private, which is known as the Plug-In Electric Vehicle (PEV) Infrastructure Support. Montana utilities has joined the National Electric Highway Coalition (NEHC) to build a network of direct current fast (DC Fast) charging stations connecting major highway systems from the Atlantic Coast to the Pacific of the US. This will include efficient and effective fast charging deployment plans that enable long distance EV travel, avoid duplication among coalition utilities, and complement existing corridor DC fast charging sites. Thanks to this incentive, you’ll be able to go far from Missoula and nearby areas while finding fast charging more accessible.
Have any more questions about Montana electric vehicle tax credits and incentives? Feel free to reach out to us! Our finance experts in Great Falls can also help you secure you a competitive price for a new Honda electric or hybrid model.
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