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In 2010, the IRS phased out tax credits worth up to $3400 for hybrids, diesels, and natural gas vehicles and established an EV tax credit worth up to $7500 for the handful of plug-in hybrids and ...
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.
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 ...
In March 2014 the Obama Administration included a provision in the FY2015 Budget to increase the maximum tax credit for plug-in electric vehicles and other advanced vehicles to US$10,000. However, the new maximum tax credit would not apply to luxury vehicles with a sales price of over US$45,000, which would be capped at US$7,500. The proposal ...
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. Electric vehicles: Government tax credit programs are planned for electric and plug-in hybrid vehicles, but no specific models have yet been certified.
There is good news and bad news on the horizon if you are thinking of purchasing an electric vehicle (EV). ... The bad news is that fewer EVs will be eligible for the tax credit starting in 2024 ...
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