Qualifying

Blog

Electric Vehicles & Plug-In Hybrids Qualifying for Federal Tax Credit

To qualify for a tax credit of up to $7,500, a new EV or eligible plug-in hybrid vehicle (PHEV) must meet certain rules:  • A vehicle’s MSRP must not exceed certain limits, so pricey EVs like the GMC Hummer EV, Lucid Air, and Tesla Model S won’t qualify. For SUVs, pickup trucks, and vans, the threshold is $80,000. For sedans,…