Good news. You as an individual taxpayer or your business can claim a federal income tax credit for alternative fuel vehicle refueling property (AFVRP) expenditures.

Bad news. The One Big Beautiful Bill Act (OBBBA) terminates the credit for AFVRP that’s placed in service after June 30, 20261—seven months from now.

If you want the credit, get busy. The clock is ticking. Here’s how the credit works.

AFVRP Credit Basics

The credit generally equals 30 percent of the cost of qualified equipment.2

However, if the AFVRP is depreciable because it’s used for business purposes, the standard credit rate is only 6 percent.3

But the 6 percent rate rises to 30 percent if the wage and apprenticeship requirements explained later in this article are met.4

Personal limit. If you use AFVRP only for personal purposes, the maximum credit is only $1,000 and the equipment must be installed at your principal residence.5 In this context, we are usually talking about an EV charging station installed in your garage, which typically costs $1,000 to $3,000. The credit would be 30 percent of the cost, so we are not talking about a big number here.

No business limit. ... Log in to view full article.