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New Jersey Approves Additional EV Road Use Taxes

The Truth About Cars

As more electric vehicles hit the roads, states are grappling with the change in tax revenues they’re seeing as a result. EV buyers don’t pay gas taxes, slashing millions out of state highway budgets and making it hard to afford planned improvements.

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New Jersey EV buyers to pay sales tax on vehicle purchases for first time since 2004   – Charged EVs

Baua Electric

Drivers in New Jersey who purchase an electric vehicle will—for the first time since 2004—have to pay sales tax on the transaction. The return of the EV sales tax comes on the heels of the July 2024 introduction of a new annual electric vehicle fee of $250 in addition to the existing vehicle registration fee.

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New Jersey marks up EV ownership with additional $1,000 fee

Baua Electric

New Jersey is introducing an additional registration fee for EVs. Governor Phil Murphy signed a law last week renewing New Jersey’s transportation trust fund that adds an annual fee set at $250 this year, and rising $10 over the remaining four years covered by the legislation, bringing it to $290.

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Power Up Your Garden State Business With New Jersey EV Incentives

EV Connect

Thanks to extended federal tax credits and robust New Jersey state EV charging incentives, this is the best time to invest in EV charging. Federal Tax Credits Regardless of your location, there is good news for businesses ready to upgrade their fleet to EV or offer cutting-edge service to their customers and employees.

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The Big E: July 17, 2024 – Today’s Most Important News

Clean Fleet Report

The good news is–it found the total cost of ownership over that period was positive (compared to a comparable gas-powered car) in 48 of 50 states. The numbers had a hiccup this month as the state decided to reverse a sales tax exemption for EVs that had been around for decades. In addition to paying 6.6 As I said a few days ago.

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State EV incentive programs are overwhelmed by demand, forced to pause

Teslarati

Today, the New Jersey Board of Public Utilities has announced that its multimillion-dollar EV incentive program has been overwhelmed by demand and will be forced to pause. According to a new report from The Associated Press , New Jersey is the latest state to face this problem.

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J.D. Power: EV price pressure grows as government incentives and lease deals wield outsized influence on consumer demand

Green Car Congress

The first evidence can be seen in consumer interest in the Ford Mustang Mach-E and the Tesla Model Y following the reclassification of both vehicles as SUVs, which made them eligible for a $7,500 federal tax credit under the Inflation Reduction Act. Additionally, both manufacturers recently announced significant price cuts on both models.

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