Funds Depleted for Maryland Plug-In Vehicle Excise Tax Credit for Fiscal Year 2016

If you are buying a plug-in electric vehicle in Maryland soon, you may have to wait until July to have your excise tax credit refund processed. According to the Maryland MVA, the funds for fiscal year 2016 are nearly depleted. The MVA says that refunds will be processed beginning in July as long as the application is received.

The following bulletin is dated February 19, 2016

Please be advised, effective immediately (February 19, 2016) the allotted funds for Plug-In electric vehicles for fiscal year 2016 are depleted. We are currently processing a number of applications received that will utilize the remaining amount of funding. Once all funds are exhausted, there will be no additional refunds issued for fiscal year 2016. Please alert your customers to this information prior to their purchase of an electric vehicle.

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

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