Electric Vehicle Federal Tax Credit up to $7,500

Electric Vehicle Federal Tax Credit up to $7,500 logo

A federal income tax credit up to $7,500 is available for the purchase of a new qualified plug-in electric vehicle with a battery that has at least five kilowatt-hours (kWh) of capacity, uses an external source of energy to recharge, has a gross vehicle weight rating of up to 14,000 pounds, and meets specified emission standards. The minimum credit amount is $2,500, and the credit may be up to $7,500, based on each vehicle's battery capacity and the gross vehicle weight rating.

• Consult your tax adviser to make sure you qualify
• Max tax credit $7,500
• Subject to availability, visit the IRS website for additional details and an application

Incentive Information

Electric Vehicle Federal Tax Incentive up to $7,500