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Rev it up!! Taking Tax Credits for EV Charging Stations

November 29, 2022

The Inflation Reduction Act (Pub. L. No. 117-169), as enacted on August 16, 2022, extended, expanded and renewed alternative fuel vehicle refueling property (AFVRP) tax credits that apply to electric vehicle charging stations, liquefied natural gas, compressed natural gas, liquefied petroleum gas, hydrogen, ethanol and biofuels. A top tax credit of $100,000 is available to investors or owners of EV infrastructure per item of alternative refueling property, although, without careful planning, the credit may be reduced to as low as $6,000 per item.

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