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If you’ve recently converted to the future of Concord driving with a new electric vehicle, you might not be aware that you might be eligible for a federal tax credit. When you purchase a Honda EV, you may be able to earn this tax credit, adding to yet another advantage of going electric. The electric car tax credit can be up to $7,500 for Manchester drivers!
How does the federal tax credit for electric cars work? Find out more about the electric car tax and more with Grappone Honda! Not a convert to the EV cause? Come to our Bow new Honda dealership where you can compare the benefits of hybrid vs. electric cars.
How does the federal tax credit for electric cars work with your new Honda EV purchase? To ensure you’re eligible for the electric car tax credit, the following criteria need to be met when you buy the vehicle:
One thing to keep in mind when learning how the federal tax credit for electric vehicles works is knowing how much you’re set to owe in income taxes for the year. Your adjusted gross income (AGI) cannot exceed the following amounts, or the tax credit will be ineligible:
To claim the EV tax credit, use this form to see if your EV qualifies.
We’re hoping this guide answers all the questions including, “How does the federal tax credit for electric cars work?” If you have further questions about electric car tax credits, make sure to contact us at Grappone Honda. You can also browse our selection of pre-owned EV and PHEV inventory to save you money on a fully electric ride at our dealership near Tilton.
