FILE - In a Tuesday, Feb. 21, 2012 file photo, Boeing Company Chairman, President, and CEO W. James McNerney, Jr. attends the first-ever State Department Global Business Conference, at the State Department in Washington. Twenty-six big U.S. companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday, Aug. 16, 2012 by the Institute for Policy Studies. The study said the companies, including AT&T, Boeing and Citigroup, paid their CEOs an average of $20.4 million last year while paying little or no federal tax on ample profits, according to regulatory filings. The study said McNerney Jr. of Boeing got $18.4 million in pay last year while his company received a tax refund of $605 million. (AP Photo/Manuel Balce Ceneta, File)
Maine senator seeks tax break on electric vehicles
Published: 03:43:19 PM, Mon 25 February 2013 UTC
AUGUSTA, Maine (AP) — Owners of plug-in electric vehicles would get tax breaks in Maine if a bill up for review this week passes.
Bangor Democratic Sen. Geoffrey Gratwick's bill would create an income tax credit for the purchase of qualified plug-in electric vehicles. The break would be equal to the excise tax paid, up to $1,000. A hearing is planned Monday afternoon before the Taxation Committee.
Maine wouldn't be the first state to pass such a tax credit. Colorado offers a tax credit of 85 percent for conversions completed between Jan. 1, 2010 and Jan. 1, 2012, lowering the cost of converting to electric hybrids.
The tax credit proposed in Maine would expire Jan. 1, 2017.
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united states senate, taxation in the united states, taxation, maine, income tax, plug-in hybrid, business, tax, tax refund, tax credit, electric vehicles, indirect tax, income tax credit, plug-in electric vehicles, democratic sen. geoffrey
