To qualify for federal tax credits on plug-in hybrid vehicles (PHEVs), income limits apply for buyers:
- $300,000 for married couples filing jointly
- $225,000 for heads of households
- $150,000 for single filers
These apply to new PHEVs meeting IRS requirements (North American assembly, MSRP under $55k for cars/$80k for SUVs/trucks). Used PHEVs have lower income caps ($150k joint/$112.5k head/$75k single), though tax credit details for used models focus on all-electric vehicles in the provided sources.
The credit amount ranges from $3,750 to $7,500 depending on battery component sourcing, with many PHEVs qualifying for the partial $3,750 credit. Buyers can now transfer the credit to dealers at purchase to reduce upfront costs.
(Note: State-specific incentives may exist but aren’t detailed in these sources.)
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-income-specific-incentives-for-plug-in-hybrid-vehicles/
