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Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. Under the rules, a dealer can apply that credit to any leased electric vehicle, no matter ...
The U.S. Treasury Department on Friday issued new guidance on how a $7,500 electric vehicle tax credit can be used as a point-of-sale rebate starting in January. Currently, consumers can only take ...
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 ...
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 $7,500. [279] There are some limitations and rules however that go along with the applied tax credit from electric vehicles.
Both the Nissan Leaf electric vehicle and the Chevrolet Volt plug-in hybrid, launched in December 2010, are eligible for the maximum $7,500 tax credit. [39] The Toyota Prius Plug-in Hybrid, released in January 2012, is eligible for a US$2,500 tax credit due to its smaller battery capacity of 5.2 kWh. [40]
The Chevrolet Bolt has long been one of the most inexpensive electric vehicle options. With an MSRP limit of $55,000, it still qualifies for the $7,500 tax credit.
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