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The other five receive only a partial credit of $3750, either because their battery minerals come from countries not on the approved list (notably, China) or 50 percent of the value of their ...
The U.S. Energy Policy Act of 2005 established a federal income tax credit of up to $3,400 for the purchase of new hybrid vehicles, purchased or placed into service after December 31, 2005. [ 1 ] [ 2 ] Vehicles purchased after December 31, 2010 are not eligible for this credit.
If you meet all of the eligibility criteria, you can net the full value of the Child Tax Credit for each qualifying child as long as your annual income isn’t more than $400,000 if you’re ...
The full tax credit was available until the end of March 2019 and thereafter reduced gradually until complete phase out beginning on April 1, 2020. [285] [286] [287] As of January 2021, 21 vehicles have access to full tax credit, depending on taxpayer's conditions. Several plugin-vehicles are also approved for significant credits.
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Income tax credit: Yes: Tax credit of 20% of the cost of a zero emission vehicle up to $5,000 purchased before July 1, 2015. Plug-in hybrids were not eligible for this incentive. [60] The incentive removal reduced sales of small EVs but had little effect on large EVs. [61] up to $2,500: Alternative fuel conversion: Income tax credit: Yes
The hybrid version comes in the Elantra Hybrid Blue, and the Elantra Hybrid. Both come equipped with a 1.6-liter, inline 4 which the EPA says can pump out between 50 to 54 mpg combined.