Federal Alternative Fuel Infrastructure Tax Credit is back!
The 30% Federal Alternative Fuel Infrastructure Tax Credit is back! This tax credit has been retroactively extended from December 31, 2017 to December 31, 2020. If you purchased and installed an Electric Vehicle (EV) charging station in 2018 or 2019 you may take this credit. Consumers who purchased qualified residential fueling equipment may receive a tax credit of up to $1,000. Commercial entities may take 30% of the total cost of the project (including installation) with a maximum of $30,000.00. The tax credit is per site which means that multiple credits can be taken.
More information on the Alternative Fuel Tax Credit can be found on the DOE website: http://www.afdc.energy.gov/laws/10513
Please consult with your tax advisor to determine your eligibility.