Commercial Vehicles For Your Maine Business

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Maximize Year-End Tax Benefits with Commercial Vehicles
As the year comes to a close, now is the perfect time for businesses to invest in commercial vehicles and take advantage of significant tax deductions. Whether you’re expanding your fleet or upgrading your current vehicles, purchasing before the year-end can maximize your tax benefits under Section 179 as well as many other tax benefits.
Under Section 179 of the IRS tax code, businesses can deduct the full purchase price of qualifying equipment, including commercial vehicles, purchased or financed during the tax year. Instead of depreciating the vehicle’s value over several years, businesses can claim the entire cost as a deduction in the year the vehicle is placed into service. The limit for Section 179 deductions can vary each year, but for 2023, it is up to $1.16 million, with a phase-out starting at $2.89 million of total equipment purchases.
Section 179 deduction eligible vehicles include:
Trucks and vans that are used at least 50% for business purposes.
Heavy vehicles (with a gross vehicle weight rating above 6,000 pounds) like work trucks and large vans, can often be fully deducted.
On top of the Section 179 deduction, businesses may also be eligible for Bonus Depreciation, which allows further deductions beyond the Section 179 cap. For 2023, businesses can claim 80% of the cost of new and used qualifying vehicles in the first year of service. This is especially useful for businesses purchasing large fleets or more expensive vehicles. However, bonus depreciation is being phased down, so it’s important to act before it reduces further.
If your business leases commercial vehicles, you may still qualify for tax incentives, though the benefits may be structured differently. Lease agreements often build tax savings into your monthly payment, lowering your costs without needing to claim the deductions directly on your taxes.
The U.S. government offers specific tax incentives to promote the use of environmentally friendly electric vehicles (EVs), and this applies to commercial purchases as well.
For businesses that purchase fully electric or plug-in hybrid vehicles, there’s a federal tax credit of up to $7,500 per vehicle. The exact credit amount depends on the vehicle’s battery capacity and the manufacturer’s sales. This incentive can significantly reduce the net cost of a new EV or plug-in hybrid vehicle for your business fleet.
- Qualified Commercial Clean Vehicle Credit: Businesses purchasing EVs for commercial use can claim this credit, which is especially valuable for companies adopting electric work vans or trucks. Unlike personal credit, this applies to fleet and commercial buyers and can sometimes be larger, depending on the size of the vehicle and its use.
While not a direct tax incentive, electric and hybrid vehicles can also save businesses on fuel and maintenance costs, which impacts the overall cost of ownership. With fewer moving parts, electric vehicles typically have lower maintenance costs, and businesses may see long-term savings that go beyond the initial tax credits.

Maine EV Incentives
Efficiency Maine EV Rebate Program
Efficiency Maine offers rebates for businesses that purchase electric vehicles for commercial use. As of 2023, the rebates for light-duty commercial EVs can range from:
- $2,000 for plug-in hybrid electric vehicles (PHEVs)
- $7,500 for fully electric vehicles (BEVs)
- $8,000 for low-income eligible buyers or municipalities purchasing eligible BEVs
These rebates apply to vehicles purchased for fleet use and can be combined with federal tax credits to further reduce costs.
Commercial EV Charging Incentives
Efficiency Maine also provides incentives to businesses that install EV charging stations. The program covers a portion of the installation costs of Level 2 and Level 3 (DC Fast Charging) chargers. For Level 2 chargers, businesses can receive up to $4,000 per plug, while DC fast chargers can receive up to $35,000 per charger, depending on location and usage.
Maine Clean Transportation Roadmap
Maine has committed to increasing the adoption of clean transportation through its “Maine Clean Transportation Roadmap.” This initiative includes funding and support for businesses transitioning to electric fleets, along with expanded EV infrastructure across the state. Keeping track of this program may provide further opportunities for businesses in Maine looking to invest in clean transportation.
Maine Clean Diesel Program
Though focused on diesel vehicles, the Maine Clean Diesel Program offers businesses grants and incentives to replace older diesel vehicles with cleaner alternatives, including EVs and hybrid vehicles. This program is managed by the Maine Department of Environmental Protection (DEP) and offers financial support for businesses that are upgrading to low-emission commercial vehicles, especially those used for freight and delivery.
Important Tax Information Disclaimer
While the tax incentives and deductions mentioned on this page can provide significant savings, it’s crucial to consult with a qualified tax professional before making any financial decisions. Every business’s tax situation is unique, and a tax advisor can help ensure that you’re properly applying for and maximizing the benefits available to you under both state and federal tax laws. This will ensure that you’re in full compliance with the latest regulations and that you’re taking advantage of every applicable incentive.
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