Federal Tax Credits for Plug-in Electric and Fuel Cell Electric Vehicles Placed into Service on or after April 18, 2023. Vehicle Model Year Certifying Manufacturer Make Model Name (Description) Final Assembly in North America Applicable MSRP Limit Credit Amount. 2022 Stellantis (FCA US LLC) Chrysler Pacifica PHEV Yes $80,000 $7,500 Electric Vehicle (EV) and Fuel Cell Electric Vehicle (FCEV) Tax Credit. The Inflation Reduction Act of 2022 (Public Law 117-169) amended the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and added a new requirement for final assembly in North America that took effect on August 17, 2022. Woefully few electric vehicles will still qualify for a federal tax credit under the Inflation only extends the $7,500 credit for electric car and plug-in hybrid buyers selectively. As it Which American-made EVs qualify for full $7,500 tax credit? Tesla Model Y cost now dips below average new vehicle, EV or not Polestar 4 will rival Model Y with $60,000 start, 300-mile range Also, the credit amount varies depending on the capacity of the battery used to power the vehicle. Other state and local incentives may also apply when completing a purchase of a green vehicle. Potential buyers of the Mitsubishi Outlander PHEV should be aware that this plug-in hybrid electric vehicle qualifies for a $5,836 federal tax benefit. . Contact the Colorado Department of Revenue at 303-238-7378. Tax credits are available in Colorado for the purchase or lease of new electric vehicles and plug-in hybrid electric vehicles. Colorado taxpayers are eligible for a state tax credit of $5,000 for the purchase or lease of a new EV on or after July 1, 2023 with a manufacturer’s The Jeep Wrangler 4xe (“four-by-e”) is among the plug-in hybrid electric vehicles that can qualify for a federal tax credit. Starting in 2010, the federal government introduced an electric vehicle tax credit that would give EV buyers a $2,500 to $7,500 break on their taxes the following year depending on their income and car battery size. Only cars under $55,000 or SUVs, vans, and pick­up trucks under $80,000 are eli­gi­ble for the credit. Updat­ed Feb­ru­ary 6, 2023 — IRS has updat­ed the clas­si­fi­ca­tion of these EVs and raised the MSRP cap from $55,000 to $80,000: Audi Q5 PHEV, Cadil­lac Lyric, Ford Escape Plug In Hybrid, Ford Mus­tang Mach‑E, Lin­coln Cor­sair Plug In Hybrid, Tes­la Mod­el Y (all vari Electrified vehicles classified as SUVs by the EPA are considered trucks for the revamped tax credit program, raising their price cap to $80,000 from $55,000. Best Plug-in Electric Coolers The only plug-in hybrid on the list eligible for the full $7,500 is the Chrysler Pacifica PHEV. It has a battery large enough to qualify, and its materials are all sourced from and made in North

does plug in hybrid qualify for tax credit