Electric Suv 2024 Tax Rebate Qualified Business Income. Today’s guidance marks a first step in the biden administration’s implementation of inflation reduction act tax credits to lower costs for families and make electric vehicles. The us department of the treasury has published final regulation s regarding federal income tax credits for the purchase of qualifying new and previously owned clean.

Yes, some evs will qualify for the federal tax credit of up to $7,500 or up to $4,000 for a used ev beginning in 2023. Qualifying vehicles must meet specific rules regarding msrp.