How do I get payment for my used electric vehicle?
Many of the vehicles that will be eligible for the used tax credit in 2023 will be plug-in hybrids and older, shorter-range EVs. · Automobiles must be at least two model years old (as of 2021 or earlier). · The battery of the vehicle must be at least 7 kWh—most cars today are plug-ins! · A licenced dealer must sell the vehicles. · To claim this credit, a vehicle cannot have been used previously. In 2023, this requirement will be simple. Even if the purchaser does not claim the credit together with the car, there is still some uncertainty regarding the eligibility of automobiles sold to an individual (as opposed to a corporation) after August 16, 2023. Any sale to a person after that point will, according to a very stringent interpretation of the Act, exclude a VIN, although clarification from the IRS is required. · The car must be sold for less than $25,000 to qualify. Here are a few well-known completely electric car models that are frequently off