Electric Vehicle (EV) sales and stocks are surging, and because of fuel efficiency, cost savings, concerns over climate change and the desire for fewer emissions, many states are incentivizing both individuals, and companies who move to electric. As a result, an increasing number of businesses are investing in EVs and making them part of their fleets. Now, the automotive industry is working to understand what this means for the industry and keeping up-to-date on these vehicles – and that is especially true for compliance. Companies are considering what this means for the compliance services they’ll need going forward, as well as the type of metrics that will come into play for EV tax requirements and more.
Because of this, the ACERTUS compliance team has compiled important information for both companies with EVs and those looking to move in that direction.
EV Compliance Specifics are Still Evolving
While states are still working on compliance requirements and taxes for EVs, Highway Use Taxes (HUT) and Weight/Mile Taxes still apply in the relevant areas. With these taxes, it’s critical to note that mileage must be tracked for zero-emission vehicles, similar to how mileage is tracked for fuel-based ones.
But as energy-efficient EVs don’t require any fuel, the International Fuel Tax Agreement (IFTA) standards don’t apply as neatly. These vehicles cannot be taxed based on gallons consumed, as is the current IFTA standard. Currently, most states are still trying to determine how to consider heavy EVs for IFTA-related taxes. As a result, they’re requiring IFTA stickers, but there is no official filing procedure or true requirements yet. In general, companies should consider in which manner they’ll track mileage for these vehicles for HUT and Weight/Mile, even if they’re not necessary for IFTA.
Increasingly, tracking recharging time, maintaining records by kW/h and keeping tabs on the locations where vehicles are charged are all best-practice recommendations for companies with EVs.
How an Expert Provider Can Assist
These changes regarding electric vehicles and their evolving compliance needs equate to a fair amount of work for any businesses looking to stay on top of the relevant state requirements in real-time. Instead of allocating their own teams to monitor these EV requirements and ensure their vehicles are always compliant which takes away crucial resources from their own fleet operations, companies can choose to outsource this work to an expert compliance provider like ACERTUS.
The compliance team at ACERTUS has connections with numerous DMVs in states across the country, the ability to stay on top of EV compliances as they occur, and proprietary technology called VINlocity that allows for easy ordering and fast compliance-service processing. ACERTUS is committed to staying ahead of the curve by monitoring developments and new requirements, applying that information in its work with its partners to help them cover their EVs and stay on top of all their various compliance needs.
Beyond this compliance work, the ACERTUS team can assist with transportation, title-and-registration, telematics, storage and other logistics – whether the vehicle type is an EV, fuel-use unit, or alternative-fuel vehicle.
Learn more about ACERTUS’ compliance services for your fleet – as well as its full range of vehicle solutions like transports and logistics options – at https://acertusdelivers.com. To connect with one of our team members or receive a quick pricing quote, contact us here or call us at this phone number: 855-ACERTUS (855-923-2655).