Automotive

January 1 Tax Credits Updates

Pushback Proverb - Incentives now are better than fines later.
No items found.

5 Minutes of Fresh Perspective

Reading the daily news doesn't have to suck. Get the email that will make you laugh and keep you informed...for free!
January 1 Tax Credits Updates

January 1 is fast approaching, and with it, new tax credit rules take effect. Among the changes that have not been pushed back are new rules.

  • The US Treasury Department said EV commercial leases (even those assembled outside North America) will be eligible.
  • Van delivery companies like FedEx and Amazon will qualify for the $7,500 per van tax incentive.
  • Companies buying larger electric vehicles can grab up to $40K each.

Why now? More than one-third of US greenhouse gasses are produced by the transportation industry. The tax credit will make a difference for early adopters who are already interested in EVs. With a price gap remaining and some still deciding about the new technology, the January 1 incentives may not have the desired effect.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.