The Internal Revenue Service (IRS) has published a list of electric and plug-in hybrid vehicles that are eligible for federal tax credits under the new Inflation Reduction Act.
Valid for purchases made on or after January 1, 2023, the list includes several Tesla models, as the new law has eliminated the tax credit cap for automakers that hit 200,000 electric vehicles sold.
It does not include all Tesla models, though. Since there's an applicable MSRP limit of $55,000 for electric cars and $80,000 MSRP limit for electric SUVs, trucks and vans, the Tesla Model S sedan and Model X SUV are not eligible for the $7,500 tax credit. That's because the Model S starts at around $105,000 and the Model X is priced from approximately $121,000.
Read Article