Electric vehicles are seen as the future of transportation. With the emergence of a market in electric cars have come subsidies and tax credits offered to people who buy them. Some of these incentives are available at the state level and some at the federal level. If you are considering buying an electric vehicle, you should be aware of the tax breaks and other advantages of purchasing one.
The federal government offers a tax credit of up to $7,500 for the purchase of a new electric vehicle. This credit is available for both fully electric vehicles and plug-in hybrid electric vehicles. Individual states also offer incentives for purchasing a new or used electric vehicle. Be sure to check your state’s laws before purchasing your electric vehicle.
So, if you’re looking for a new car, consider an electric vehicle. Not only does it make you part of a forward-thinking (and hopefully growing) community, but it also provides tax incentives from the government that can save you money on your purchase.