MD plug-in electric vehicle tax credit depleted for FY 2016

MD plug-in electric vehicle tax credit depleted for FY 2016

The Maryland Motor Vehicle Administration advises dealers that the allotted funds for the plug-in electric vehicle excise tax credit has been depleted for FY 2016, as of February 19. MVA is processing several applications that will use the remainder of the funds. Once all funds are exhausted, no additional refunds will be issued for FY 2016. Dealers should tell customers this before they buy an electric vehicle.

MVA will continue to accept applications for the excise tax credit until the end of the fiscal year, even when the fund is depleted. Plug-in electric vehicle tax credits will resume in July 2016 for vehicles that meet the requirements.

If you have questions, contact MVA at 410-768-7346.