Form Tsb-M-04(3)i, Tsb-M-04(1)s, Tsb-M-04(2)c - Office Of Tax Policy Analysis Technical Services Division 2004 - New York State Department Of Taxation And Finance
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1
2New York State Department of Taxation and Finance
TSB-M-04(3)I
Office of Tax Policy Analysis
TSB-M-04(1)S
Technical Services Division
TSB-M-04(2)C
March 2, 2004
Notice of Expiring New York State Tax Law Provisions Relating to
the Alternative Fuels Credit and the Sales Tax Exemption for
the Purchase of Alternative Fuel Property
Certain New York State tax benefits relating to the purchase of alternative fuel property have
expired. These benefits are explained below.
Alternative Fuel Credits
The New York State Tax Law provided for corporation tax credits and personal income tax
credits for the purchase of new electric vehicles or qualified hybrid vehicles, and for the
conversion of gasoline powered or diesel powered vehicles to alternative fuel (clean-fuel) use.
Investments in new clean-fuel vehicle refueling property also qualified for the credits. Except
for qualified hybrid vehicles, which must have been placed in service in tax years beginning on
or after January 1, 2000 and before 2004, the credits only applied to property placed in service in
tax years beginning after 1997 and before 2004.
Accordingly, no new alternative fuel credits will be allowed for property placed in service in tax
years beginning after 2003. However, taxpayers who have a carryover from an alternative fuels
credit allowed for property placed in service in a prior year may continue to carry that credit
forward until it is used up.
For more information on the alternative fuels credits, see TSB-M-98-(6)C, (4)I ,(11)S and
TSB-M-02(6)C, (8)S, (10)I.
Sales Tax Exemption for Alternative Fuel Vehicles and Property
As of February 29, 2004, the State and local sales and use tax exemptions provided by section
1115(p) of the Tax Law with respect to new alternative fuel vehicles (e.g., certain electric
vehicles, qualified hybrid vehicles, and certain vehicles operated on alcohol, hydrogen, liquefied
petroleum gas or compressed natural gas) and alternative fuel vehicle refueling property
expired. As a result, as of March 1, 2004, purchasers of such vehicles or property will no longer
receive a partial sales tax exemption on their purchase.
For more information on the expiring sales and use tax exemptions, see TSB-M-02(6)C, (8)S,
(10)I, TSB-M-98(6)C, (11)S, (4)I, and TSB-M-93(1)S.
W A Harriman Campus, Albany NY 12227
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