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Buying a new car? You can save big on electric vehicles with new state tax exemptions

Buying a new car? You can save big on electric vehicles with new state tax exemptions
Wednesday, July 31, 2019
 electric vehicles

Those who purchase new or used clean alternative fuel or plug-in hybrid vehicles are now eligible for a sales and use tax exemptions, according to a news release from the state Department of Revenue.



From Aug. 1 2019 to July 31 2020 buyers can get sales tax exemptions on up to $25,000 on the purchase of a new car. That number decreases to $20,000 in 2021, and $15,000 in 2023. For used cars the sales tax is exempt up to $16,000.


Those buying new or used vehicles exclusively powered by clean alternative fuel, or plug-in hybrids that can travel at least 30 miles on battery power alone, qualify for the exemptions. The cost of new vehicles can’t exceed $45,000 while used vehicles can’t exceed $30,000 before trade-in to qualify. Battery-powered boats also qualify for sales and use tax exemptions.

For a list of eligible vehicles, visit the DOL’s website.

To make use of the exemption, buyers must provide sellers with an exemption certificate, which is available on the Department of Revenue’s website.

The exemptions come from a new law passed during the last legislative session that took effect Aug. 1.. Under the law, Washingtonians can qualify for the exemptions until July 31, 2025.

According to the bill, the exemptions are offered in the hopes of encouraging Washington state residents to switch to more sustainable transportation methods.



In addition to the tax break, the bill, HB 2042, included a number of other green transportation initiatives.


The bill outlined a program to encourage privately funded electric car charging stations, a pilot program which would provide car sharing programs to low-income communities or low- to moderate-income communities “not readily served by transit,” and allots funds to complete a study “to identify opportunities to reduce barriers to battery and fuel cell electric vehicle adoption by lower-income residents.”

Source theolympian.com
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