(redirected from Alternative Fuel vehicle Refueling Property Credit)
ARPCRAlternative Fuel vehicle Refueling Property Credit (IRS deduction)
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* Alternative fuel vehicle refueling property credit;
Although most of the provisions of the Alternative Motor Vehicle Credit (IRC section 30B) expired at the end of 2010, the Alternative Fuel Vehicle Refueling Property Credit (IRC section 30C) equals 30% of the cost of qualified property for the storage or dispensing of clean-burning fuel, subject to limitations, including a per-location amount of $30,000 for business taxpayers.
The ARRA repeals the $4,000 cap on the 30% general business credit as it pertains to "small wind energy property" (section 48), increases the alternative fuel vehicle refueling property credit (section 30C), and repeals the basis reduction rule for the general business credit as applied to certain alternative energy property financed by subsidized energy financing or private activity bonds (section 48(a)(4)(D)).
The period of eligibility for the alternative fuel vehicle refueling property credit would be extended for hydrogen-related property for five years, through the end of 2019, and for two years, through 2011, for other fuel-related property.
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