There are no income limits for leasing an EV when it comes to the federal EV tax credit. This is because the tax credit for leased electric vehicles is classified as a commercial sale under the Inflation Reduction Act (IRA). As a result, the lessor (usually the leasing company or dealer) receives the tax credit, not the lessee (the person leasing the vehicle).
However, when buying an electric vehicle to qualify for the tax credit, income limits do apply. The buyer’s annual income cannot exceed $300,000 for married couples or $150,000 for single filers. Leasing bypasses these income restrictions, allowing a broader range of individuals to benefit from the credit, albeit indirectly through reduced lease prices if the dealer opts to pass on the savings.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-income-limits-for-leasing-an-ev-that-affect-the-tax-credit/
