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Posted on Jul 28th, 2016 Comments (0)
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Tax Credit Information
Posted on Jul 15th, 2016 Comments (0)
Alternative Fuel Infrastructure Tax Credit
NOTE: This incentive originally expired on December 31, 2013, but was retroactively extended through December 31, 2016, by H.R. 2029(PDF).
Fueling equipment for natural gas, liquefied petroleum gas (propane), liquefied hydrogen, electricity, E85, or diesel fuel blends containing a minimum of 20% biodiesel installed between January 1, 2015, and December 31, 2016, is eligible for a tax credit of 30% of the cost, not to exceed $30,000. Permitting and inspection fees are not included in covered expenses. Fueling station owners who install qualified equipment at multiple sites are allowed to use the credit towards each location. Consumers who purchased qualified residential fueling equipment prior to December 31, 2016, may receive a tax credit of up to $1,000. Unused credits that qualify as general business tax credits, as defined by the Internal Revenue Service (IRS), may be carried backward one year and carried forward 20 years. For more information about claiming the credit, see IRS Form 8911, which is available on the IRS Forms and Publications website. (Reference Public Law 114-113; 26U.S. Code 30C and 38; and IRS Notice 2007-43(PDF))

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