- Details
- Category: Industry News
Weighing the idea of adding an alternative fuel or electric vehicle (EV) to your fleet, soon or in the future? There’s a lot to consider before you do, but if costs are among your impediments, incentives may sweeten the pot a bit.
Congress and the Biden administration are making it easier—or at least cheaper—to add EVs to your lineup starting in 2023 thanks to the Inflation Reduction Act passed earlier this year. The (updated) Commercial Electric Vehicle and Fuel Cell Electric Vehicle Tax Credit offers incentives up to $40,000 per vehicle for businesses that add these clean cars to their operation after January 1, 2023. And unlike the incentive for personal-use vehicles (Clean Vehicle Tax Credit), this credit has fewer restrictions and more generous allowances.
How it works (via the US Department of Energy): Vehicles with a GVWR below 14,000 lbs. must have a battery capacity of at least seven kilowatt-hours (kWh) and vehicles with a GVWR above 14,000 lbs. must have a battery capacity of at least 15 kWh. The tax credit amount is equal to the lesser of the following amounts:
- 15 percent of the vehicle purchase price for plug-in hybrid electric vehicles/30 percent of the vehicle purchase price for EVs and FCEVs, OR
- The incremental cost of the vehicle compared to an equivalent internal combustion engine (ICE) vehicle
Additional information:
- Max caps are $7,500 for vehicles with a GVWR below 14,000 lbs. and $40,000 for those exceeding 14,000 lbs.
- Vehicle must be used in the US
- Cannot be combined with the Clean Vehicle Tax Credit (which is specially for personal use)
- Credit is set to expire at the end of 2032
Note that many cities and states may also have their own programs, so talk with your accountant or click here to search for additional incentives (federal, state, and local) that may apply to your business—which may even help defray the costs of installing the charging infrastructure in your company’s garage. As always, the devil is in the details, so be sure that you are consulting with a tax professional for maximum benefit.
You can read more about financing your first EV in the December 2022 issue of Chauffeur Driven.
[12.13.22]
- Details
- Category: Industry News
L to R: John Oulton of Richmond Limousine, Patrick Helvey of Executive Town Car and Limousine, and Bill Kerr of Camryn Executive Transportation
The Virginia Limousine Association (VLA) headed to Ristorante Renato in Fredericksburg, Va., for its annual holiday party/dinner on Tuesday, December 2. The well-attended event gave operators from throughout the state the opportunity to network and socialize while celebrating the holiday.
VLA President William "Bill" Kerr of Camryn Executive Transportation and Limousine briefly spoke to the members and guests, thanking them for attending and for their support throughout the year.
Members from across the state enjoyed an Italian meal at the annual dinner party
An announcement was also made that the association’s first meeting of the new year will be held in Charlottesville, Va. The dates and venue will soon be announced.
Kerr says that they were thrilled to have such a well-attended and successful event, and that the association is looking forward to reconvening in the upcoming year ahead.
Visit virginialimousineassociation.org for more information.
[12.13.22]
- Details
- Category: Industry News
The 2022 NELA Board of Directors
On Tuesday, December 6, the New England Livery Association (NELA) held its annual holiday quarterly meeting at the Crowne Plaza Hotel in Woburn, Mass. The event attracted 75 members and guests for a dinner and entertainment, courtesy of renowned mentalist Jon Stetson.
Sponsors for the event included meeting sponsors Lancer Insurance and Research Underwriters; entertainment sponsor American Classic Limousine; cocktail sponsors Great Bay Limousine and EngineIQ; and raffle sponsors Alternative Claims Management, Center Insurance, Cross Insurance, DavEl BostonCoach, Four Star Limousine, Prevost, Sullivan Tire, TIB Insurance, and Town Fair Tire.
Following a cocktail hour and registration, NELA Executive Director Rick Szilagyi of Lexian Management kicked off the meeting by thanking everyone for turning out to make the event a success.
Sunny Shah of Engine IQ
NELA President Joe Cardillo also thanked everyone for attending, and gave a shout-out to sponsors—including Mitch Guralnick representing Prevost and the New England Bus Association. He also cited important programs which the NELA continues to offer and wished everyone a nice holiday.
Next, Bob Crescenzo of Lancer and Steve Crispo of Research Underwriters presented. Crescenzo stated that there are training modules online for all operators to use, and Crispo emphasized the importance of supporting vendors that support the organization.
Szilagyi then welcomed Mitch Guralnick of Prevost and the New England Bus Association (NEBA), who presented information about Prevost, and provided details for the upcoming annual NEBA meeting in the summer of 2023, along with recent discussions with the NELA relative to participation in the event.
Mentalist Jon Stetson (center) with Brion and Amela Svenson of Four Star Limousine
Before welcoming Stetson, the evening’s entertainment, Szilagyi stated that “sometimes people do things that benefit us, and we may not even know who they are.” He then thanked Carl Varney of LA Limousine for his help in securing Andrew Card, who served as Chief of Staff to President George W. Bush during 9/11, as a speaker at a NELA meeting in 2019.
Stetson—who was the basis of the hit CBS show The Mentalist—then took the spotlight. For nearly an hour, the real-life mentalist mystified the crowd, culminating in a trick that left the attendees wondering “how did he do that?”
Following the entertainment, it was time for the always popular NELA raffles. Kevin Cronin of Above All Transportation won the 50/50 raffle, and donated his $400+ share back to the association, winning a round of applause. Mitch Guralnick of Prevost and NEBA won $200 worth of scratch tickets, while Teale Smith of Maine Limousine Service won the basket of holiday cheer provided by Dav El/BostonCoach. Debbie Sickles of A-1 Limousine won the large Yeti cooler and Kato Murray of The LMC Groups won a gigantic Lindt Chocolates basket, compliments of Amela and Brion Svenson of Four Star Limousine.
Visit nelivery.org for more information.
[12.12.22]