Tesla vehicles acquired between July 1 to Decemqualify for a credit of $1,875.Tesla vehicles, including the Tesla Model 3, Tesla Model S, Tesla Model X, and others acquired between January 1 and Jqualify for a tax credit of $3,750.Individuals who purchased a vehicle from Tesla or GM in 2019 will receive a partial credit depending on when they acquired 1 their vehicle: That means the amount of tax credit earned from purchasing a vehicle from either of those manufacturers has declined. In a promising sign for EV adoption, reached the 200,000 per manufacturer sales cap in 2019. Table 1: Section 30D tax credit phases out after 200,000 EV sales cap is reached Once that cap is reached, the credit ramps down for the following four quarters and then phases out completely (see table 1). That’s because the tax credit is available until a manufacturer has sold 200,000 EVs. This post will provide an update on the availability and amount of the federal EV tax credit and information on state incentives in Minnesota.Īmerican taxpayers who purchased a qualified plug-in EV in 2019 are eligible to claim a federal tax credit from $2,500 to $7,500, depending on the vehicle’s battery capacity and how many EVs a manufacturer has sold. With the annual tax-filing deadline extended to Jbecause of the COVID-19 crisis, new electric vehicle (EV) owners have an added cushion to claim the IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit (commonly referred to as the federal EV tax credit).

2019 plug in hybrid vehicle taxes