Premium Payment

Pay now
Home » Commercial Clean Vehicle Credit
January 2, 2023
tjohnson

Commercial Clean Vehicle Credit

Businesses and tax-exempt organizations that buy a qualified commercial clean vehicle may qualify for a clean vehicle tax credit of up to $40,000 under Internal Revenue Code (IRC) 45W.  The credit equals the lesser of:

  • 15% of your basis in the vehicle (30% if the vehicle is not powered by gas or diesel)
  • The incremental cost of the vehicle

The maximum credit is $7,500 for qualified vehicles with gross vehicle weight ratings (GVWRs) of under 14,000 pounds and $40,000 for all other vehicles.

Categories: Blog

©2024. All rights reserved. | Powered by Zywave Websites

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.