Electric vehicle tax credits expanded significantly with the enactment of the Inflation Reduction Act. While the law expands the prior $7500 federal electric vehicle tax credits by lifting the 200,000-vehicle sales cap for manufacturers to be eligible, it also introduces new requirements for eligibility along with expanding the definition for clean vehicles. Now, vehicles fueled by fuel cell motors can also take advantage of the tax credit. The Inflation Reduction Act also introduces a tax credit for pre-owned electric vehicles. In this post, we highlight key eligibility requirements and share additional consumer resources. Continue reading »
