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Section 45W was created in the Inflation Reduction Act and is available for qualified vehicles acquired and placed into service between 2023 and 2032. This is a general business income tax credit.  The credit is 15% of the cost but increases to 30% for a vehicle not powered by a gasoline or diesel combustion engine. The credit cannot exceed the vehicle’s incremental cost, which is t...

The Inflation Reduction Act (IRA) passed on August 16, 2022 added numerous tax incentives for making investments in “clean energy”. I plan to write about various topics of interest over the next few weeks. I will start with the revised §30D clean vehicle credit.  This credit existed prior to the IRA and could be the same maximum of $7,500. The credit phased out as the model...