qbteachmt
Level 15
10-05-2022
04:01 PM
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"When does Tesla’s tax credit phase out?
Tesla’s $7,500 tax credit per vehicle drops to $3,750 on Jan. 1, 2019. It drops to $1,875 on July 1, 2019, then vanishes entirely on Jan. 1, 2020."
"If you’re wondering why no Teslas or the GMC Hummer EV are included, it’s because GM and Tesla vehicles are no longer eligible for the federal tax credit. When a manufacturer sells its 200,000th qualified vehicle, the tax credit is scheduled to wind down, reducing by half to $3,750 and then half again over a period of time before being reduced to nothing. Tesla sold its 200,000th vehicle in 2018, and the credit fully expired at the end of 2019."
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