Tax Credits for Electric Cars

Electric vehicle tax credits can be highly valuable, but there are a lot of confusing rules regarding how they work. This guide is going to show you what you need to know about tax credits on plug-in electric vehicles. It will also answer some of the most common questions people have.

How Much are Electric Vehicle Tax Credits?

electric car and vehicle tax creditAll-electric and plug-in hybrid vehicles bought new in or after 2010 may be eligible for a $7,500 federal income tax credit.
The amount of the credit will vary depending on the capacity of the battery used to power the car.… Read the rest