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Frequently Asked Questions

Question: Where do I start in purchasing an EV?

ANSWER: Go to the “About” tab and pull down to the “Working Groups” header, then slide right and down to the “Electric Car Dealerships” header to go to that web page.   Or click on this link at:  www.nevadaeva.org/electric-car-dealerships

Frequently Asked Questions (FAQ) about the Alternative Fuel Vehicle Refueling Property federal tax credit (Disclaimer: The FAQ below represents the best information NEVA has at the time. Please consult your tax professional to ensure accuracy of your particular tax situation).

1. Question: Does the Alternative Fuel Vehicle Refueling Property federal tax credit cover the cost of installation, such as construction (trenching, conduit, wire, etc.) or just the charging station equipment?

Answer: Cost of installation is included.

2. Question: If a property owner decides to install charging stations at multiple locations, are they eligible for multiple tax credits up to the $30K max for “each” commercial location ($1000 max for each residential location) or an aggregate total of $30k/$1K for “all” locations combined?

Answer: The credit is allowed for the property placed in service at EACH LOCATION where the property is placed. The property would also be available for a Sec. 179 deduction and/or available for the credit or both assuming the Section 179 limits are met. If tax liability of the business entity is less that credit, the credit is available for carryback (one year) or carry forward (20 years), but no refunds or rebates. For the personal credit of $1,000, if it is NOT used in the year in which the equipment is installed, it is LOST, no carryback, carryover, or tax refunds or rebates.

3. Question: Can only taxable entities apply for the Alternative Fuel Vehicle Refueling Property federal tax credit (excluding municipalities, non-profits, and other non-taxable entities)?

Answer: Normally, this is true. However, non-taxable entities can negotiate with a partner/vendor, if the vendor qualifies for the tax credit. The vendor can then pass on the savings to the non-profit as a reduction in cost of equipment and installation. A “letter of understanding” between the vendor and non-tax entity is highly recommended and well as confirmation from their local tax/accounting expert.

4. Question: Can the benefit of this federal tax credit be carried over if the taxable entity reports a loss?

Answer: Since the provision is a reduction of the tax liability, qualified entities that have losses can carryback and carryover the credits.

Q: What do all those electric vehicle acronyms mean?

ANSWER: With any new technology comes new concepts, definitions, jargon, terminology, measuring units, and acronyms. Here is a preliminary “decoding chart” that spells out some of the common acronyms used in the electric vehicle industry:

AFV – Alternative Fuel Vehicle

AC – Alternating Current

AC Motor Alternating Current Motor

AMA – American Motorcycle Association sanctioning organization for speed racing competitions

Amp – Ampere unit of measurement for amount of electric current flow

BEV – Battery-powered Electric Vehicle

BHP – Brake Horse Power measurement unit = horsepower at wheels of vehicle

BMS – Battery Management System

CO2 Carbon Dioxide emissions

DC – Direct Current

DC – Motor Direct Current Motor

EAA Electric Auto Association

EREV – Extended Range Electric Vehicle

EV – Electric Vehicle

EVSE – Electric Vehicle Supply Equipment that provides power for recharging battery packs in electric vehicles

FCV – Fuel Cell Vehicle

FIA – Federation Internationale de l’Automobile sanctioning organization for racing and time trials

FIM – Federation Internationale de Motocyclisme sanctioning organization for motorcycle racing and time trials

F1 – Formula One Racing Association

GT – Gran Tourismo racing associations

HEV – Hybrid Electric Vehicle

HP – Horse Power measurement unit = power available at drive train

IAFRA – International Alternative Fuel Racing Association

KERS – Kinetic Energy Recovery System

KW – Kilowatts measuring unit for electric power in 1000-watt increments

KWH – Kilowatt-hours measures battery energy capacity (power over time)

Li-ion – Lithium-ion family of battery cell technologies

LiCoO2 – Lithium Cobalt Oxide battery cell chemistry

NiCad – Nickel Cadmium battery cell chemistry

NiMH – Nickel Metal Hydride battery cell chemistry

LiFePo4 – Lithium Iron Phosphate battery cell chemistry

MPG – Miles Per Gallon of gasoline

MPGe – Miles Per Gallon equivalent energy (1 gallon of gasoline = 33.7 kwh of battery pack capacity)

NEDRA – National Electric Drag Racing Association

NHRA – National Hot Rod Association

NOx – Nitrous Oxide emissions

PbA – Lead-Acid battery cell chemistry

PHEV – Plug-in Hybrid Electric Vehicle

PSI – Pressure per Square Inch measuring unit for compressed air in tires and gases for fuel cell vehicle tanks

Regen – Regenerative Braking System

RPM – Revolutions Per Minute measuring unit for rotating systems

SCTA-BNI Southern California Timing Association – Bonneville Nationals, Inc. sanctioning organization for landspeed racing

TTXGP – Time Trials Xtreme Grand Prix electric motorcycle racing series

USFRA – Utah Salt Flats Racing Association sanctioning organization for landspeed racing

VMS – Voltage Monitoring System

Volt – Unit of measurement for potential force of electricity available

Watt – Unit of measurement for electric power = product of Volts x Amps

ZEV – Zero Emissions Vehicle