How Do I Claim Electric Car Tax Credits
in California?
If you buy an electric vehicle, you're not only helping the environment, but also, your bank account. That's because your purchase of a qualifying EV can come with exclusive electric car tax incentives in California for you to take advantage of! All-electric and plug-in hybrid vehicles purchased new in 2010 or after qualify for up to $7,500 in federal tax credits, while the California Clean Fuel Reward Program offers an additional $750 to qualified buyers or lessees. If you have any more questions about EV tax rebates in California or which Toyota vehicles qualify for rebates, reach out to our Toyota dealership in Victorville today.
How Do I Get My Electric Car Tax Credit?
If you purchase a qualifying electric car, you'll be able to claim up to $7,500 in federal EV tax credits against the federal income taxes you owe. You can only claim this rebate in the year in which you bought your vehicle. If you're eligible for a tax refund as well, you'll receive both your refund and EV tax credit.
Am I Eligible for an EV Tax Rebate in California?
California offers up to $750 for the purchase or lease of a qualifying electric car or plug-in hybrid vehicle as part of the Clean Fuel Reward Program. Eligible EVs must have a minimum battery capacity of 5 kWh and be purchased from participating retailers. Eligible customers must also reside in and register their EV in California to claim this reward.
Can I Get a Tax Credit on a Used Car?
No, the federal tax credit is only applicable to new car purchases during the year in which you're filing your taxes.
Can I Get a Tax Credit If I Lease an EV?
Yes, you can be eligible for the $750 California Clean Fuel Reward with the purchase or lease of a qualifying EV or plug-in hybrid vehicle.
Which Electric Vehicles Are Eligible for Tax Credits?
2021 Electric Vehicles & Tax Credits
| Vehicle | Vehicle Type | Full Credit |
|---|---|---|
| Toyota Prius Prime Plug-in Hybrid | PHEV | $4,502 |
| Toyota RAV4 Prime Plug-In Hybrid | PHEV | $7,500 |
2022 Electric Vehicles & Tax Credits
| Vehicle | Vehicle Type | Full Credit |
|---|---|---|
| Toyota Prius Prime | PHEV | $4,502 |
| Toyota RAV4 Prime | PHEV | $7,500 |
