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New purchase: The full tax credit is only available for new electric car purchases, not used ones. However, some pre-owned vehicles purchased in 2023 or after are eligible for a tax credit of up ...
Currently, the tax credit for purchasing a qualifying new battery-electric and plug-in hybrid vehicles is either $3750 or $7500. Used EVs and PHEVs sold for $25,000 or less are also eligible for a ...
Electric cars are expensive, but tax credits might be able to help. ... Your income can't exceed $150,000 if you're a joint filer or surviving spouse, $112,500 if you're a head of household, or ...
Currently the standard credit for a qualified alternative fuel vehicle is $4,000. Other than the Civic GX, a number of models produced after 2004 may qualify for tax credits. [13] Electric vehicles: Government tax credit programs are planned for electric and plug-in hybrid vehicles, but no specific models have yet been certified. [14]
To qualify for the tax credit, a car cannot cost more than $55,000. SUVs, pickups and vans can't exceed $80,000. And a buyer's gross income must be no more $150,000 if single, $300,000 if filing ...
If you're in the market for a new car this year and considering an electric vehicle, the government has just issued an updated list of the 22 options (including 2023 models) available for the ...
On April 17, the U.S. Treasury Department updated its list of electric vehicles that qualify for $7,500 in tax credits for 2023, with U.S. brands such as GM and Tesla likely to get the biggest ...
Federal tax credits for plug-in electric vehicles and fuel cell electric vehicles purchased in 2023 or after may be eligible for a federal income tax credit of up to $7,500 for new vehicles and up ...