Electric Vehicle and Charging Station Tax Credits: Assessing Proposed Changes
By EsqSocial Corporation 15/06/21
Section 30D of the US Internal Revenue Code (“IRC”) provides business and individual taxpayers that purchase new qualified plug-in electric drive motor vehicles (“EVs”), including passenger vehicles and light trucks, with a nonrefundable tax credit. The credit amount varies depending on the battery size and the number of EVs sold by the manufacturer and is capped at $7,500 per vehicle. The credit phases out when the manufacturer has sold at least 200,000 qualifying vehicles (determined on a...
By: Mayer Brown - Tax Equity Times