Note: this page is for informational purpose only. Please seek tax advise from your tax professional.
Businesses and tax-exempt organizations that buy a qualified commercial clean vehicle can earn up to a 30% tax credit with a cap of $7,500 for electric or fuel cell vehicles with gross vehicle weight ratings under 14,000 pounds and up to $40,000 for vehicles greater than 14,000 pounds. (There is a potential 15% credit for qualifying gasoline or diesel vehicles.)
The vehicle must be made by a qualifying manufacturer, be for use in your business in the U.S. and not already be claimed for a tax credit under another IRS allowance. The depreciable basis of the vehicle will be reduced by the amount of the commercial clean vehicle credit you receive. The IRS is still finalizing the details and the form for this credit. Please monitor this IRS website link for more information.