A tax credit called the "new qualified plug-in electric drive motor vehicle" credit (NQPEDMV credit) is available. Basically a vehicle eligible for the NQPEDMV credit must be new, have 4 wheels (2-wheeled vehicles may qualify for a separate credit) and a battery capacity of at least four kilowatt hours. The base amount of the NQPEDMV credit is $2,500 per vehicle, but the credit increases when the battery capacity increases.

Contact us if you need help determining the possible tax benefits available for an eligible vehicle.

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