Federal tax credits for new all electric and plug in hybrid vehicles federal tax credit up to 7 500.
Plug in electric drive vehicle credit 2018.
Internal revenue code section 30d provides a credit for qualified plug in electric drive motor vehicles including passenger vehicles and light trucks.
Under this program the purchase of a new electric vehicle is eligibe for a tax credit worth 7 500 as long as it meets the following criteria.
In order to take the credit you must file irs form 8936 with your return and meet certain requirements.
The qualified plug in electric drive motor vehicle tax credit is the main federal incentive program for electric cars available in the united states.
All of the following plug in hybrids and electric cars qualify for the credit for qualified plug in electric drive motor vehicles and have different credit amounts depending on the year of the vehicle.
Notice 2016 15 updating of address for qualified vehicle submissions.
Will begin to phase out january 1 2019.
The 30g g credit is claimed on form 8934 qualified plug in electric and electric vehicle credit pdf.
Qualified plug in electric drive motor vehicles irc 30d internal revenue code section 30d provides a credit for qualified plug in electric drive motor vehicles including passenger vehicles and light trucks.
Accordingly the credit for all new qualified plug in electric drive motor vehicles sold by tesla inc.
About publication 463 travel entertainment gift and car expenses.
Notice 2009 89 new qualified plug in electric drive motor vehicle credit.
3 626 credit amount and clarity plug in hybrid 2018 and 2019.
Ir 2018 252 december 14 2018.
Notice 2013 67 qualified 2 or 3 wheeled plug in electric vehicle credit under section 30d g.
Has sold more than 200 000 vehicles eligible for the plug in electric drive motor vehicle credit during the third quarter of 2018 this triggers a phase out of the tax credit available for purchasers of new tesla plug in electric vehicles beginning jan.
Notice 2018 96 pdf 16 kb states that tesla inc.
For vehicles acquired after 12 31 2009 the credit is equal to 2 500 plus for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity 417.
Federal incentives for electric vehicles.
American honda motor co inc.
The credit amount will vary based on the capacity of the battery used to power the vehicle.
The 30d a credit is claimed on form 8936 qualified plug in electric drive motor vehicle credit including qualified two or three wheeled plug in electric vehicles pdf.
For vehicles acquired after december 31 2009 the credit is equal to 2 500 plus for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity 417 plus an additional 417 for each kilowatt hour of.
Submitted reports indicating that its cumulative sales of qualified vehicles reached the 200 000 vehicle limit during the calendar quarter ending september 30 2018.
All electric and plug in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to 7 500.
