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Make and model: Only certain electric vehicles qualify for the tax credit. Not all electric cars are eligible. The full list of approved vehicles can be found at FuelEconomy.gov. Vehicle cost: To ...
(For context, the gargantuan Hummer EV weighs about 9,000 pounds.) Final assembly of the vehicle must take place in North America. ... Used EVs can qualify for a tax credit of up to $4,000.
It is also important to be aware that there is a much lower income cap when it comes to this particular tax credit: $75,000 for a single individual filing and $150,000 for an entire household.
As of the start of the year, the implementation of new rules by the Department of Energy (DOE) means only 13 vehicles qualify for federal tax credits for electric vehicles made in North America.
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]
The Toyota Prius Plug-in Hybrid, released in January 2012, was eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. [278] All Tesla cars and Chevrolet Bolts were eligible for the $7,500 tax credit. As granted by the 2009 ARRA, electric vehicles produced after 2010 are eligible for an IRS tax credit from $2,500 to ...
Used EVs and PHEVs sold for $25,000 or less are also eligible for a credit of 30 percent of the sale price (up to a maximum of $4000), provided these vehicles are two model years older than the ...
If you and your car fall under the federal EV tax credit income and price limits, respectively, here are the 10 cars that will get you a full federal tax credit of $7,500 and their MSRPs ...