Income limits for claiming electric vehicle (EV) tax credits primarily apply at the federal level rather than the state level. At the federal level, income limits are as follows:
- Married Couples Filing Jointly: Modified Adjusted Gross Income (MAGI) must be under $300,000.
- Heads of Household: MAGI must be under $225,000.
- All Other Filers: MAGI must be under $150,000.
For used EVs, the income limits are halved: $150,000 for joint filers, $112,500 for heads of households, and $75,000 for all other filers.
State-specific tax credits or rebates for EVs may exist, but these programs often do not have income limits, or the limits can vary significantly from state to state. For example:
- Some states offer rebates without income limits, focusing more on the type of vehicle or its cost.
- Others might have specific requirements or caps but generally do not follow the same income-based restrictions as federal credits.
To find out if a specific state has income limits for its EV tax credits, it’s best to consult that state’s government or tax office directly.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-income-limits-for-claiming-state-ev-tax-credits/
