Tax credit for energy-efficient vehicles not powered by gasoline or diesel engines
Electric vehicles, plug-in hybrids, and fuel cell vehicles.
New: Up to $7,500:
$3,750 for meeting critical minerals requirement
$3,750 for meeting battery component requirement
MSRP limit of $80,000 for vans, SUVs, and pickup trucks
MSRP limit of $55,000 for cars
Credit not available for taxpayers with current year or prior year AGI over:
Couples - $300,000
Head of Household – $225,000
Individuals - $150,000
Used: Credit of the lesser of $4,000 or 30% of the sale price
Cost limit of $25,000
Couples - $150,000
Head of Household – $112,500
Individuals - $75,000
Commercial: Lesser than 15% of the cost basis (30% if not powered by gasoline or diesel engine) or the amount by which purchase price exceeds the price of a comparable internal combustion vehicle.
Credit limit of $7,500 for vehicles less than 14,000 lbs and $40,000 for all other clean vehicles
