Per IRS Code Sec.30(D), the amount of the Qualified Plug in Electric Vehicle Credit varies depending upon the following factors as shown below:
1. When the vehicle is acquired.
2. What type of vehicle it is.
3. Whether or not the vehicle is new or converted vehicle.
The amount of the Qualified Plug in Electric Vehicle Credit is based upon weight of the vehicle as shown below:
- For vehicles whose weight is up to 10,000 lbs the credit is $ 7,500.
- For vehicles whose weight is up to 10,000–14,000 lbs the credit is $10,000.
- For vehicles whose weight is up to 14,001–26,000 lbs the credit $12,500.
- For vehicles whose weight is up to more than 26,000 lbs the credit $15,000.
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