That said, because the vehicle is still owned by the dealership, you must ask the dealer to pass along the EV tax credit to you in the form of a rebate or reduction in sales price. Vehicles that meet all requirements except for battery sourcing and component requirements may be eligible for half of the federal tax credit up to $3,750.ĮV leases are also eligible for the $7,500 EV tax credit, and as of January, 2023, leased vehicles are not required to meet the qualifications listed above for EV purchases. These include personal or household income, vehicle MSRP caps based on the type of vehicle you’re interested in, vehicle production requirements based on where the vehicle and its components are manufactured and assembled, and battery component and critical minerals sourcing requirements from countries in which the United States has a Free Trade Agreement with. If you do not pay taxes in Colorado, you’ll need to check with the state where you do pay taxes to see what EV incentives offered.Īs of April, 2023, to receive the full federal EV tax credit of up to $7,500 for new EV purchases, there are several qualifications that you must meet.
Beginning January 1, 2024, EVs with an MSRP up to $35,000 will be eligible for an additional tax credit of $2,500. Lease agreements must have an initial term of at least two years.
If you pay taxes in Colorado, you’re eligible for a state tax credit of $5,000 with the purchase or lease of a new EV with an MSRP up to $80,000.
0 kommentar(er)
