The tax credit for leasing an electric vehicle (EV) belongs to the leasing company, not the lessee. However, leasing companies can pass on some or all of the savings from the tax credit to you in the form of lower lease payments. This is often done as a rebate or a reduced lease price if the dealer agrees to pass on the savings.
So, while you don’t directly receive the tax credit, you can benefit from it indirectly through lower payments if the leasing company decides to share these savings with you. The dealer’s decision to pass on the savings is not mandatory, meaning you might not receive lower payments in all cases.
For businesses or individuals leasing vehicles or equipment under different tax structures, lease payments themselves can be fully deductible as operating expenses. However, this does not apply to the EV tax credit specifically but rather to the general tax treatment of lease payments.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-the-tax-credit-savings-be-applied-directly-to-my-lease-payments/
