Is Model Y An Suv For Tax Credit Find out if you are eligible for a new electric vehicle tax credit up to 7 500 for vehicles purchased in 2022 See the list of manufacturers and models that qualify including Tesla and the phase
The IRS updated its list of eligible EVs and made all versions of the Model Y eligible up to 80 000 MSRP This should increase access to the tax credit for people who are eligible to buy Since the five seat Model Y Long Range starts at just under 66 000 and the five seat Model Y Performance is priced from just under
Is Model Y An Suv For Tax Credit
Is Model Y An Suv For Tax Credit
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Learn how the Inflation Reduction Act of 2022 affects the tax credit for qualified plug in electric drive motor vehicles fuel cell vehicles and previously owned clean vehicles The IRS has increased the MSRP limit for SUVs to 80 000 allowing Tesla Model Y to get the 7 500 tax break The change follows Tesla CEO Elon Musk s meeting with officials in Washington D C
Tesla s Model Y with five seats isn t being considered as an SUV by the IRS making it ineligible for the clean vehicle incentives through the inflation reduction act In response Tesla slashed the price of the Model Y by nearly 20 000 so it would qualify for the EV tax credit that went into effect on January 1 In a clarification dated February 3 Treasury
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The IRS revised its vehicle classifications to include Tesla Model Y as an SUV which has a higher price threshold for the federal tax credit The tax credit is retroactive for Just 19 different electric vehicle and plug in hybrid variations qualify for tax credits in 2024 down from 43 last year See below for the full list including all the model variations
The Tesla Model Y is a fast and practical electric SUV with a long range and a great charging network It starts from 44 990 but rivals such as the Audi Q4 e tron and the Kia EV6 offer more The discount drops the price of the Tesla Model 3 and some Model Y SUVs below the caps for a 7 500 federal tax credit
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Find out if you are eligible for a new electric vehicle tax credit up to 7 500 for vehicles purchased in 2022 See the list of manufacturers and models that qualify including Tesla and the phase
https://electrek.co
The IRS updated its list of eligible EVs and made all versions of the Model Y eligible up to 80 000 MSRP This should increase access to the tax credit for people who are eligible to buy
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Is Model Y An Suv For Tax Credit - Tesla s Model Y with five seats isn t being considered as an SUV by the IRS making it ineligible for the clean vehicle incentives through the inflation reduction act
