The credit for the lease of a qualifying electric or plug-in hybrid electric motor vehicle or truck is a fixed amount based upon the weight classification for the motor vehicle or truck and the tax year that the taxpayer enters into the lease agreement (see also the section entitled “Date of purchase, lease, or conversion”, above). Those vehicles currently qualify for a maximum credit of $3,750. In order to take the credit, you must file IRS … Charging Customers who purchase qualified residential charging equipment between January 1, 2018 and December 31, 2020 may receive a tax credit of up to $1,000.. State Incentives. However, if you are driving a plug-in hybrid electric vehicle which still uses some gasoline, then you may not qualify for the full $7,500.

Based on battery size, the credit … Search Federal and State Laws and Incentives. For example, the Qualified Plug-In Electric Drive Motor Vehicle Credit for GM’s electric vehicle models began a phaseout for eligible vehicles bought between April 1, 2009, and Sept. 30, 2019. The base 2019 Chevrolet Bolt LT starts at $37,495 including the $875 destination fee.

You can search by keyword, category, or both. Another factor which determines the tax credit amount is the amount of taxes that you owe to the federal government. Mitsubishi Tax Credit. One of the first electric vehicles sold in the U.S. was the quirky 2012 Mitsubishi i-MiEV.It’s long-gone now, leaving the 2020 Mitsubishi Outlander PHEV as the only plug-in car in the company’s lineup. New vehicle transactions must not exceed $45,000 in price or lease payments. A fully electric vehicle which does not use gasoline will likely qualify for the full $7,500. Make and Model All-Electric Range (miles) Base MSRP Fuel Economy (MPGe) Federal Tax Credit NY Rebate Type; Audi e-tron : 204: $74,800 : 74: $7,500 : $500 The credit halves itself every quarter until it reaches $0. Since 2010, anyone purchasing a qualified electric vehicle, including any new Tesla model, has been eligible to receive a $7,500 federal tax credit. On August 1, 2019, the sales and use tax exemption was reinstated for the sales of: vehicles powered by a clean alternative fuel; certain plug-in hybrids; The exemption applies to dealer and private sales of new, used, and leased vehicles sold on or after August 1, 2019. Right now, buyers will get $1,875 -- one fourth of the original sum -- back on their 2019 taxes if they take delivery of a Tesla by Dec. 31. The Honda Clarity Fuel Cell does not qualify for the rebate. General Motors vehicles qualify through March 31, 2020. The electric-car tax credit is supposed to incentive and help offset the purchase of battery-electric cars and plug-in hybrid vehicles. Several states and local utilities offer additional electric vehicle and solar incentives for customers, often taking the form of … Teslas, for example, will no longer qualify for a credit after December 31, 2019. If you purchased a new vehicle that runs on electricity drawn from a plug-in rechargeable battery, you may be eligible to claim the qualified plug-in electric drive motor vehicle tax credit, which can reduce your tax bill. Search incentives and laws related to alternative fuels and advanced vehicles. This tax credit begins to phase out once a manufacturer has sold 200,000 qualifying vehicles in the U.S.