EV Tax Credit Changes for 2023

The Inflation Reduction Act (IRA) provided for a Clean Vehicle Tax Credit to provide for investment in clean energy and transportation technology.  Changes to the tax credit mean that new clean vehicles are eligible for up to $7,500 depending on battery size, and previously owned vehicles are eligible for up to $4,000.  Some of the requirements include: the vehicle must be made by a qualified manufacturer, have final assembly in North America, and income limits do apply to taxpayers.

See our Affordability page for more information.