With Tax Day just a few weeks away, AAA Northeast reminds drivers who bought an electric vehicle last year, they may be eligible for a credit on their federal tax return.
— an announcement from the AAA Northeast
In 2022, according to the EValuateCT dashboard, more than 12,000 electric vehicles were newly registered in the Nutmeg State. The dashboard provides insights into the current state of vehicle electrification in Connecticut.
Photo by Precious Madubuike on Upsplash.com
Fueling up a Tesla
Generally, consumers who purchased a new battery electric vehicle or plug-in hybrid in 2022 are eligible for a nonrefundable tax credit up to $7,500 if the car wasn’t a Tesla or General Motors vehicle.
If they purchased an EV on or after Aug. 17, the vehicle’s final assembly must have occurred in North America. To determine this, drivers can check by looking up their VIN on nhtsa.gov/vin-decoder or checking the Department of Energy’s website).
To determine the exact rebate amount, drivers should consult a tax professional and complete IRS form 8936. If using tax-filing software, drivers should ensure the credit is included. AAA members can save 25% on filing with TaxAct at AAA.com/TaxAct.
Tax credit rules have changed for EV purchases made in 2023 so prospective electric vehicle buyers should check if they’re eligible for rebates on AAA’s new website, AAA.com/EV.