Treasury Lays Out Tax Credit Rules on EV Charging Stations (1)

The IRS and Treasury Department proposed rules Wednesday for the alternative fuel vehicle refueling property tax credit.

The proposed rules (REG 118269-23, RIN 1545-BR19) detail which electric vehicle charging stations and other clean fuel infrastructure, such as hydrogen fueling, are eligible for the section 30C credit. The credit was extended and modified in the Democrats’ 2022 tax-and-climate law known as the Inflation Reduction Act. It provides a credit for up to 30% the cost of installing a qualified refueling property. The credit is capped at $1,000 for individuals and $100,000 for businesses for each “single item of property,” ...