phev

[rpowell2]

Hi,  I was looking into purchasing a PHEV but at this moment, most, if not all tax incentives are no longer available.

1. is it possible any tax incentives could be reinstated for 2023?

2.if so, when can I be sure to know if it will be or not (ex beginning of the year, middle, who knows?!)?

3. would it be advisable to lower my tax withholding through 2023 'just in case' the incentive is reinstated so I can take advantage of that?

4. are the income limitation for California resident to claim?

Thank you.

[OpeA1]

Hello rpowell2!

Here is a comprehensive page on the new law regarding cars: 

https://afdc.energy.gov/laws/electric-vehicles-for-tax-credit#:~:text=The%20Inflation%20Reduction%20... 

Here is the link to check on the specific incentives in your state by car model:

https://afdc.energy.gov/laws/search?keyword=Public+Law+117-169 

I hope you find that these two links answer all your questions!