EV Tax Credit (New Clean Vehicle)
Overview
Federal tax credit for purchasing a new qualifying electric vehicle. $3,750 for battery component requirements + $3,750 for critical mineral requirements.
Eligibility
MAGI under $150K (single) or $300K (joint). MSRP under $55K for cars, $80K for SUVs/trucks/vans. Vehicle must be assembled in North America.
How to Claim
Claim on Form 8936 with federal return, or transfer to dealer at point of sale for immediate discount.
What It Covers
New EVs, plug-in hybrids (7+ kWh battery)
Income Limits
$150K single / $300K joint
IRS Form
File Form 8936 with your federal tax return to claim this credit.
Official Source
https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-afterFrequently Asked Questions
How much is the EV Tax Credit (New Clean Vehicle) worth?
Who is eligible for the EV Tax Credit (New Clean Vehicle)?
Is the EV Tax Credit (New Clean Vehicle) a tax credit or a rebate?
How do I claim the EV Tax Credit (New Clean Vehicle)?
When does the EV Tax Credit (New Clean Vehicle) expire?
Who is eligible for the EV Tax Credit (New Clean Vehicle)?
How much is the EV Tax Credit (New Clean Vehicle) worth?
State Electric Vehicles Programs That Stack
These state programs can be combined with the EV Tax Credit (New Clean Vehicle):
The RebatePeek editorial team aggregates and verifies programs data from DSIRE, IRS, DOE, EIA & State Energy Offices. Every statistic on this site is cross-referenced against the official source before publication, with quarterly re-verification cycles.
Read our full methodology or contact us with corrections.