New EV Tax Credit Gets Complicated for 2023

09 Jan 2023 | Abstracted from Kiplinger

"...the new tax credit rules for EVs that became effective January 1, are also a mix of battery sourcing and capacity requirements, MSRP price caps, and income limits...the IRS recently released answers to frequently asked EV questions and a new list of EVs that qualify for the 2023 federal EV tax credit.

"...vehicles must have minimum battery capacity requirement of 7kWh and gross vehicle weight rating less than 14,000 lbs."

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