Rebate for taxpayers who buy electric vehicles in the US
Millions in the United States may get a tax rebate if the buy an electric vehicle. Find out how much you could receive. Who will be eligible for the rebate.
- Millions in the United States may get a tax rebate if the buy an electric vehicle.
- Find out how much you could receive.
- Who will be eligible for the rebate.
Good news for the beginning of February, as it has been announced that millions of people in California may qualify for a tax rebate if they buy an electric vehicle. Find out if you are eligible and how much you could receive in a direct payment, according to The Sun.
The government is trying to encourage people to buy environmentally-friendly vehicles and as incentive some could get a generous tax rebate.
WHAT IS THE REBATE?
California officials seek to help low to middle income residents buy electric vehicles (EV). The amount of the rebate could vary, so it is important to check the benefits before buying a car.
The funds will come from the California Clean Vehicle Reimbursement Project (CVRP), so everything is set to begin awarding the rebates.
HOW MUCH WILL TAXPAYERS RECEIVE?
The rebates will be between $1,000 and $7,500 to help with the cost of the car, as well as thousands of dollars in federal rebates. The Tesla Model 3 and Model Y are included on the list of eligible vehicles.
This benefit applies to the majority of Californians, including those with low to moderate incomes. The rebates went into effect on January 1, 2023.
HOW MUCH CAN YOU CLAIM?
If you decide to purchase an EV and you are a California resident in the low to moderate income range, you can claim the following amounts. $4,500 for a hydrogen fuel cell vehicle, $2,000 for a battery electric vehicle, $1,000 for a plug-in hybrid
The income limits for the CVRP are $135,000 for single filers, $175,000 for head of household and $200,000 for married couples, so it is important that you determine what your eligibility is.