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- Tax Credit
IRA Statuatory Location:
13401
Tax Code Location:
26 U.S. Code § 30D
New or Modified Provision:
Modified and extended. Credit extended with new rules pertaining to final assembly in the United States, critical minerals/battery components, and foreign entities of concern. Per manufacturer limit is lifted.
Eligible Recipients:
The tax credit is not available for consumers who have adjusted gross incomes for the current or preceding year above $300,000 (couples), $225,000 (heads of household), $150,000 (singles). Not inflation adjusted.
Tribal Eligibility:
Yes, point of sale transfer to registered dealers (definition of “dealer” includes persons licensed by Indian Tribal governments to engage in the sale of vehicles)
Funded by:
U.S. Department of Treasury
Description
Provides a tax credit for purchasers of clean vehicles.
Direct Pay Eligibility:
;
Transferability:
Yes. Starting in 2024, transferable only to the dealer at point of sale under section 30D(g) but not under section 6418.
Stackability:
Cannot claim both 30D credit and 45W credit.
Energy Community Bonus:
No
Relevant Announcements
Related Resources
Additional information is available on the Resources page.Key Details
Period of Availability
Generally, vehicles placed in service in 2023-2032. Some of the 30D rules have differing timeframes.
Tax Mechanism:
Tax credit for consumers
Base Credit Amount:
0
Bonus Credit Amount:
;