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By Kelley R. Taylor published 7 June 2023 Colorado now offers one of the highest state electric vehicle tax credits, thanks to a new clean energy law. Taxpayers in Colorado can take advantage of this credit, which combined with the federal EV tax credit can result in even greater savings. The new law, “Tax Policy…
By Kelley R. Taylor Last updated 3 April 2023 Eagerly anticipated federal guidance on the EV tax credit was released earlier this year, limiting which electric vehicles qualify for the $7,500 tax credit under the Inflation Reduction Act (IRA). The proposed rules set out requirements for critical minerals and battery components that must be met…
By Kelley R. Taylor Last updated 4 weeks ago A federal EV tax credit is available under the Inflation Reduction Act (IRA) — a significant piece of legislation aimed at promoting clean energy. The credit can be as high as $7,500 for qualifying electric vehicles (EVs), also referred to as “clean vehicles.” This initiative is…
Understanding the Electric Vehicle Tax Credit A federal EV tax credit is here, thanks to the Inflation Reduction Act (IRA) — significant tax and climate legislation promoting clean energy. The credit of up to $7,500 for certain electric vehicles, called “clean vehicles,” aims to encourage more people to use EVs. However, there are many questions…