Electric Vehicle Tax Credit
First Plug-in Electric Vehicle Manufacturer Crosses. IR-2018-252, December 14, 2018. WASHINGTON — The IRS announced today that Tesla, Inc. has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the third quarter of 2018.This triggers a phase out of the tax credit available for purchasers of new Tesla plug-in electric vehicles beginning Jan. 1, 2019.
Plug In Electric Drive Vehicle Credit Section 30D. A credit for cars and trucks that draw energy from a battery and were purchased after 12/31/2009. The credit phases out when each manufacturer sells 200,000 of its vehicles. The credit ranges between $2,500 and $7,500, depending on the battery capacity of the vehicle. This credit was modified by the Plug-in Electric Drive Vehicle Credit
2020 Trump Budget Would Pull Plug On Electric Vehicle Tax. In his budget aimed at cutting $126 billion or 5 percent from non-defense federal spending, President Trump proposes to eliminate the plug-in vehicle tax credit that gives electric-car buyers up
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Electric-Vehicle Tax Credit Mainly Benefits Wealthy Owners. The tax credit quickly became another example of the government’s solicitousness for those who are comfortable, and who are skillful in defense of their comforts.
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