Plug In Hybrid Electric Vehicles Tax Credit

Internal revenue code section 30d provides a credit for qualified plug in electric drive motor vehicles including passenger vehicles and light trucks.

Plug in hybrid electric vehicles tax credit. The 30d a credit is claimed on form 8936 qualified plug in electric drive motor vehicle credit including qualified two or three wheeled plug in electric vehicles pdf. According to the u s. 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. All of the following plug in hybrids and electric cars qualify for the credit for qualified plug in electric drive motor vehicles and have different credit amounts depending on the year of the vehicle.

American honda motor co inc. One of the first electric vehicles sold in the u s. Electric vehicles evs and plug in electric vehicles phevs are eligible for federal tax credits up to a maximum of 7 500 on many models. The 30g g credit is claimed on form 8934 qualified plug in electric and electric vehicle credit pdf.

The credit amount will vary based on the capacity of the battery used to power the vehicle. Federal tax credits for new all electric and plug in hybrid vehicles federal tax credit up to 7 500. 3 626 credit amount and clarity plug in hybrid 2018 and 2019. The tax credit is also available on fuel cell electric vehicles and plug in hybrid electric vehicles but the amount can vary based on battery size.

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. Form 8936 is used to figure credits for qualified plug in electric drive motor vehicles placed in service during the tax year. For vehicles acquired after december 31 2009 the credit is equal to 2 500 plus for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity 417 plus an additional 417 for each kilowatt hour of. Was the quirky 2012 mitsubishi i miev it s long gone now leaving the 2020 mitsubishi outlander phev as the only plug in car in the company s lineup.

The honda clarity fuel cell does not qualify for the rebate. A federal hybrid car tax credit is available to consumers who buy plug in electric vehicles evs in the united states. Information about form 8936 qualified plug in electric drive motor vehicle credit including recent updates related forms and instructions on how to file. Qualified plug in electric drive motor vehicles irc 30d internal revenue code section 30d provides a credit for qualified plug in electric drive motor vehicles including passenger vehicles and light trucks.

With only one niche vehicle in a tiny model lineup it could be decades before mitsubishi approaches the.