What is ‘Qualified Electric Vehicle’
An electric vehicle that qualifies the owner to claim a nonrefundable tax credit. A qualified electric vehicle must have at least four wheels and be designed for public use. It must also be powered primarily by an electric motor drawing its charge from rechargable batteries or fuel cells. The vehicle must be driven almost exclusively in the U.S.
Explaining ‘Qualified Electric Vehicle’
In order to claim the qualified electric vehicle credit, the taxpayer must have purchased the vehicle new and for personal or business use. The vehicle cannot be purchased for resale, and it cannot have been used as a nonelectric vehicle at any time. The credit is claimed on IRS Form 8834.
Further Reading
- Strategic policies and demonstration program of electric vehicle in China – www.sciencedirect.com [PDF]
- Review of electric vehicle policies in China: Content summary and effect analysis – www.sciencedirect.com [PDF]
- Effects of providing total cost of ownership information on consumers' intent to purchase a hybrid or plug-in electric vehicle – www.sciencedirect.com [PDF]
- The cultivation of electric vehicles market in China: Dilemma and solution – www.mdpi.com [PDF]
- Generation and management of waste electric vehicle batteries in China – link.springer.com [PDF]
- … for probabilistic uncertain linguistic multiple attribute group decision making based on the GRA and CRITIC method: application to location planning of electric vehicle … – www.tandfonline.com [PDF]
- The private and social consequences of purchasing an electric vehicle and solar panels: Evidence from California – www.sciencedirect.com [PDF]
- The effects of public subsidies on emerging industry: An agent-based model of the electric vehicle industry – www.sciencedirect.com [PDF]
- Can green taxation trigger plug-in hybrid electric vehicle acquisition? – www.emerald.com [PDF]
