Electric Vehicle Rebate 2024 Income Limit. As part of the inflation reduction act, gm electric vehicle purchases will once again qualify for a federal tax credit (i believe only $3750 due to sourcing requirements). If your application is approved, you have a year to use your rebate.
The maximum federal tax credit of $7,500 on an eligible electric vehicle is effectively a $7,500 handout to you, which is far more than what you’d gain if you simply subtracted $7,500 from your. The limit is $80,000 for vans, sport utility vehicles and pickup trucks, and $55,000 for all other evs.
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