Alternative fuel commercial vehicle infrastructure credit

From the 2024 DOR Tax Exemption Study

82.04.4496(2) - Alternative fuel commercial vehicle infrastructure credit Description A credit is allowed against either B&O or PU taxes for up to 50% of the cost to purchase alternative fuel vehicle infrastructure which includes tangible personal property that will become a component and installation and construction of alternative fuel vehicle infrastructure. Credit for infrastructure is limited to $2 million annually. A credit is allowed against either B&O or PU taxes for the purchase or lease of new or qualifying used commercial vehicles powered by a clean alternative fuel, or the conversion of vehicles to be powered by a clean alternative fuel. The credit is equal to 75% of the incremental cost amount, which is the difference in price between the qualified vehicle’s purchase price and a comparable conventionally-fueled vehicle, or the maximum credit amount for that vehicle, whichever is smaller. For leased vehicles, the credit is equal to 50% of the incremental cost amount multiplied by a lease reduction factor. For converted vehicles, the credit is $25,000 or 50% of the conversion costs, whichever is smaller. The maximum credit amount per vehicle is $25,000, $50,000, or $100,