![]() ![]() If you’d like to learn more about electric vehicle tax credits at the federal level, check out those details here.Įlectric vehicle tax credits, rebates, and exemptions vary much more at the state level and can even get more granular down to specific counties or energy companies, depending whether its a state-level or private utility perk available to you. Now there are a bunch of other factors that are and will be in play starting Januwhen the new terms kick in, but we’ve already delved deep into that for you. US consumers may qualify for up to $7,500 in federal tax credit for an electric vehicle. It all depends on where you live.įor example, while the federal electric vehicle tax credit is quite complicated under its revised terms in the Inflation Reduction Act, the concept of the credit itself remains quite cut and dry. Most obvious, federal credits apply to the entire United States as a whole while state credits and rebates vary by each territory and can be far more abundant… or not. There are important distinctions between both federal and state electric vehicle tax credits. It’s important to understand how these incentives or exemptions vary from the more all-encompassing credits at the federal level. That being said, there are plenty of options in a majority of states that you can and should take advantage now. With the newly signed Inflation Reduction Act, we know federal tax credits for electric vehicles are extended for another decade, but state credits and rebates move at an entirely different pace. The benefits will not last forever, but to further EV adoption in the US, the federal government and its respective state entities offer several perks to consumers looking to go all-electric. How electric vehicle tax credits work in the US Other resources to learn about electric vehicle tax credits.Utah residents don’t have to pay tax on electricity used to charge their EV. ![]()
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