Updates to the Clean Vehicle Tax Credit Starting in 2023

Are you hoping to qualify for a clean vehicle tax credit? If so, there’s a new list of potentially eligible plug-in electric or fuel cell vehicles purchased after 2022. Manufacturers include Audi, Ford, Nissan, Rivian, Stellantis (Chrysler and Jeep), Tesla, Volkswagen and Volvo. Vehicles on the list don’t automatically qualify for the credit. They must meet certain conditions, including that final assembly is done in North America. Also, the suggested retail price must not exceed $80,000 for vans, sport utility vehicles or trucks, or $55,000 for other vehicles. This list is not yet complete, so interested taxpayers should continue to check the website and discuss with our Abdo tax team.