Alternative Fuel Vehicle Refueling Property Credit
The Energy Policy Act (EP Act) of 2005 (Pub. L. No. 109-58, § 1342) provided an income tax credit equal to 30 percent of the cost of installing new alternative fuel vehicle refueling property at each location by the taxpayer is limited to a maximum of $30,000 in the case of business propertyIf the refueling property is acquired by a tax-exempt organization, governmental unit, or a foreign person or entity, and the use of that property is described in section 50(b)(3) or (4), the company that sold the fueling equipment can claim tax credit – but only if they provide the customer with written notification of the credit value
- Up to $7,500 Federal Tax Credit for purchase of new electric cars – based on battery size
- The U.S. stimulus package contains EV and infrastructure incentives
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