Maximize Your Savings: The Essential 2025 Electric Vehicle Tax Rebate Guide
Eligibility Criteria for Federal Tax Credits
To qualify for federal tax credits, the vehicle must meet specific criteria. Firstly, the vehicle must be purchased for personal use, not for resale, and primarily driven within the United States. The vehicle must also be new, meaning it has not been previously owned or used. Additionally, the credit amount is determined by the battery capacity of the vehicle, with a minimum threshold that must be met2.
Income limits also play a role in eligibility. For instance, individual taxpayers with a modified adjusted gross income (MAGI) exceeding $150,000, or joint filers with a MAGI over $300,000, may not qualify for the full credit amount. This stipulation ensures that the benefits are directed towards individuals who are more likely to need financial assistance in purchasing an EV3.