Electric Vehicle
(EV)
U.S. Tax Incentives
There are several EV Tax Incentives in place in The United States. Suffice to say that the IRS will allow up to $15,000.00 deduction against taxes owed to reimburse the expense of purchasing ab EV or against the cost of converting a vehicle to an EV.

You can find the IRS Web Page Here .
Note: The incentive is against Tax Liability. So If you do not have $15,000 in Tax liability in any Tax year - you can carry the remaining incentive to the next tax year, and so on. The incentive bonus balance will continue to decline from year to year until it has been exhausted.

Complete definitions and explanations ( with the formulas - Caution A Lot Of Math Here!) can be found in IRS Bulletin 2009-37, 14 Sept 2009.

In addition to the Tax Incentive - there is an annual tax deduction for owning and operating an EV. This tax credit is in the amount of $2,500 per vehicle, per tax year.

To obtain this credit on your taxes you will need to file IRS Form 8834. This form and it's instructions can be obtained from the IRS Web Site. Use this link: http://www.irs.gov/pub/irs-pdf/f8834.pdf.

This link will take you to the IRS Website. Remember to hit the BACK Button on your browser to return to this page.
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