Federal Tax Credit For Hybrid Electric Cars

Qualified plug in electric drive motor vehicle tax credit.

Federal tax credit for hybrid electric cars.

The federal tesla tax credit has run its course and the federal ev tax credit on general motors vehicles will end soon. A federal hybrid car tax credit is available to consumers who buy plug in electric vehicles evs in the united states. In my most fuel efficient cars post i highlighted the hyundai ioniq as one of the top empg vehicles in the u s. Department of energy you can receive a tax credit of.

Federal tax credit of 7 500 knocking the net price down from around a 30 000 msrp to the low 20k. All electric and plug in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to 7 500. But a key component of that cost is the u s. The credit amount will vary based on the capacity of the battery used to power the vehicle.

Additionally states and some municipalities also may offer consumer sweeteners such as access to high occupancy vehicle lanes known as hov lanes or free parking. Simply answer a couple of questions and the efile app will select the correct tax credit form s for you to complete. Market and it comes in well below 30k. Before you decide whether or not to buy an electric car or plug in hybrid.