The Propane Education & Research Council (PERC) encourages propane autogas fleet operators to take advantage of the Alternative Fuel Tax Credit, which was recently passed by the US Congress as part of the Further Consolidated Appropriations Act, 2020.
Autogas fleets that apply for the tax credit can claim a credit for every gasoline gallon equivalent of propane purchased. This equates to about 37 cents per gallon. The bill extends credits through December 31. It also allows fleet owners to apply for credits for any fuel purchases made in 2018 and 2019.
“The extension of the Alternative Fuel Tax Credit is a win for fleet managers, allowing them to further take advantage of the financial benefits of propane autogas in addition to the environmental benefits it provides fleets,” says Steve Whaley, director of autogas business development at PERC. “Even without the Alternative Fuel Tax Credit, propane autogas already offers the lowest total cost-of-ownership of any vehicle fuel. So the tax credit is icing on the cake for propane autogas fleet managers.”
The new law also retroactively extends the Alternative Fuel Vehicle Refueling Property Credit. This allows operators to claim up to 30% or $30,000 of the cost of installing alternative fuel vehicle refueling property. This also includes 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.
Find out more about propane autogas vehicles, visit www.propane.com.