Big changes are coming to the federal electric car tax credit with congressional passage of the Inflation Reduction Act, changes that may make it eventually easier to own an EV, but initially harder to afford one. The details are more complicated than ever, but can make a huge difference in EV adoption. Here’s what you …
The Bottom Line on the New Electric Car Tax Credit Game Read More »
Updated August 12, 2022 at 4:07 p.m. EDT|Published August 11, 2022 at 6:00 a.m. EDT Cash effective tax rates of most-profitable companies since 2019 Berkshire Hathaway, Amazon and Intel paid less than 15 percent in taxes globally in each of the last three years Tech companies including Alphabet lower their tax bills by reporting income …
The corporate minimum tax could hit these ultra-profitable companies Read More »
Text size Packages ready to be sent at an Amazon center. Thomas Samson/AFP via Getty Images Some major companies, including Tesla and Amazon . com, are likely to face higher tax bills under the $750 billion Inflation Reduction Act, which was approved in the House on Friday. The legislation was approved in the Senate on …
Tesla, Amazon Are in Line for a Tax Hit From Climate Bill Read More »
Tesla cars charge next to a traditional Texaco gas station on July 17, 2022 in Nephi, Utah. With more electric cars on the road, lack of charging infrastructure is becoming more of a problem for EV owners. George Frey | Getty Images Proposed tax credits of up to $7,500 for electric vehicles under the Inflation …
How the EV tax credits in Democrats’ climate bill could hurt electric vehicle sales Read More »
But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s mainly because of the bill’s requirement that, to qualify for the credit, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent. And those …
Auto makers warn most electric vehicles won’t qualify for federal tax credit Read More »
A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s mainly because of the …
Most electric vehicles won’t qualify for Inflation Reduction Act tax credit Read More »
DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s …
Most electric vehicles won’t qualify for federal tax credit Read More »
Enlarge / Volkswagen is one of several automakers that are already assembling their EV battery packs locally. But the value of the materials that go into the pack will determine whether it qualifies for the revised clean vehicle tax credit. Volkswagen The Inflation Reduction Act of 2022 passed the United States Senate on Sunday and …
It’s possible no electric vehicles will qualify for the new tax credit Read More »
Congress is poised to approve newly expanded tax credits for electric vehicles, but the rules are written in such a way as to effectively disqualify every EV that’s currently on the market today. That’s because most EVs run on lithium-ion batteries that are mostly made in China. The nation has a lock on some 76 …
No electric vehicles on the market today qualify for the new EV tax credit Read More »
Automaker lobby group Alliance for Automotive Innovation says that if additional sourcing requirements go into effect, U.S. automakers won’t qualify for the full credit. According to Reuters, these automakers have been privately expressing their worries about the proposal’s increasing requirements regarding batteries and critical mineral contents being sourced from the U.S. John Bozzella, head of …
Auto lobby group worries that most U.S. EVs disqualified for EV tax credit Read More »