If you bought a new, qualified plug-in electric vehicle in 2022 or before, you may be eligible for a clean vehicle tax credit up to 7,500 dollars. The total amount of the credit is based on the vehicle's battery capacity. This credit is available to individuals and businesses. The vehicle must be for you or your business's own use and mainly used in the United States. Some of the qualifications for the vehicle are that it: Must have an external charging source, a battery capacity of at least 5 kilowatt hours and a gross weight of less than 14,000 pounds. And it must be made by a manufacturer that hasn't sold more than 200,000 electric vehicles in the U.S. Depending on when the vehicle was purchased, it may also have to meet final assembly requirements to qualify for a tax credit. Learn more about this credit and which plug-in electric vehicles qualify by visiting irs.gov/cleanvehicles.
