Sc Sch.tc-48 - Plug-In Hybrid Vehicle Credit

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1350
STATE OF SOUTH CAROLINA
SC SCH.TC-48
DEPARTMENT OF REVENUE
PLUG-IN HYBRID
(Rev. 11/13/12)
3447
VEHICLE CREDIT
20
Attach to your Income Tax Return
Name As Shown On Tax Return
SSN or FEIN
1. Enter the amount of credit approved in writing by the S.C. Department of Revenue …………....
1.
$
2. Enter your current year tax liability …………………………………………………………………….
2.
$
3. Enter the lesser of line 1 or line 2. This is your credit for the current year. Enter this amount on
the appropriate tax credit schedule ……………………………………………………………….......
3.
$
4. Line 1 minus line 3. This is the amount of unused credit. Unused credit can be carried forward
for 5 years ……………………………………………………………….............................................
4.
$
General Information
For tax years beginning in 2012 and before 2017, Code §12-6-3376 allows a taxpayer to claim a nonrefundable credit
against individual or corporate income tax for an in-state purchase or lease, made on or after July 1, 2012, of a new
qualified plug-in hybrid vehicle. A plug-in hybrid vehicle is a vehicle that:
(1) shares the same benefits as an internal combustion and electric engine with an all-electric range of no less than nine
miles;
(2) has four of more wheels;
(3) draws propulsion using a traction battery;
(4) has at least four kilowatt hours of battery capacity; and
(5) uses an external source of energy to recharge the battery.
A qualified plug-in hybrid vehicle also must be manufactured primarily for use on public streets, roads, and highways.
Low- and medium-speed vehicles DO NOT QUALIFY for credit:
Low-speed vehicles are vehicles capable of a speed of at least 20 but not more than 25 miles per hour, used primarily
for short trips and recreational purposes, and having safety equipment such as lights, reflectors, mirrors, parking
brake, windshield, and safety belts.
Medium-speed vehicles are vehicles capable of a speed of at least 30 but not more than 46 miles per hour and having
safety equipment such as lights, reflectors, mirrors, parking brake, windshield, and safety belts.
Only vehicles certified by the manufacturer, or the domestic distributor in the case of a foreign manufacturer, are eligible
for the credit. The base credit is $667 for a battery capacity of 4 kilowatt hours, with an additional $111 for each additional
kilowatt hour, not to exceed $2,000.
A taxpayer must complete a TC-48A application form and submit it to the department prior to claiming the credit. The
total credits earned in a calendar year must not exceed $200,000. Credits will be awarded among eligible claimants on a
first-come, first-served basis, as determined by the department.
See for a list of vehicles certified for credit, the amount of credit for each certified vehicle, and the
amount of remaining credit.
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