Alternative fuel refueling property credit

Section 13404 of the Inflation Reduction Act extends and modifies the tax credit for alternative fuel refueling property. Qualifying property is expanded to include charging stations for two- and three-wheeled vehicles (for use on public roads) and bidirectional charging equipment (i.e. vehicle-to-grid or V2G). Starting in 2023 and lasting for ten years, qualifying property will be limited to that placed in service within low-income or non-urban census tracts. For residential property, the credit amount is continued at 30% of the cost with a maximum amount of USD 1,000. For business property, the credit amount decreases to 6% (from 30%) with a maximum amount of USD 100,000 (previously USD 30,000). Business property meeting prevailing wage and regi