fuel cell vehicle tax credit

The amount of the tax credit ranges from $2,500 to $7,500, depending on the size of your battery. The federal electric vehicle tax credit program provides a tax credit as high as $7,500, depending on the vehicle you choose and your individual tax circumstances. All-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. A qualified fuel cell motor vehicle is a vehicle propelled by power from one or more cells which convert chemical energy directly into electricity. A tax credit of up to $8,000 is available for the purchase of qualified light-duty fuel cell vehicles, depending on the vehicle's fuel economy. Federal Tax Credits for New All-Electric and Plug-in Hybrid Vehicles Federal Tax Credit Up To $7,500!

Information about Form 8910, Alternative Motor Vehicle Credit, including recent updates, related forms and instructions on how to file. The Fuel Cell Stack. Qualified fuel cell vehicle. The credit can only be claimed for cars purchased before 2017. Type: State Incentives | Jurisdiction: Maryland Qualified PEV and FCEV purchasers may apply for an excise tax credit of up to $3,000. Complete Form 8910 to claim the credit and attach it to Form 1040. To qualify for the Alternative Motor Vehicle Credit, the vehicle must be a Qualified Fuel Cell Vehicle.

Tax credits are also available for medium- and heavy-duty fuel cell vehicles; credit amounts are based on vehicle weight. The credit amount will vary based on the capacity of the battery used to power the vehicle. Plug-In Electric Vehicle (PEV) and Fuel Cell Electric Vehicle (FCEV) Tax Credit. You can prepare and efile these forms on eFile.com. An alternative motor vehicle is a vehicle with at least four wheels that qualifies as a qualified fuel cell vehicle. Use Form 8910 to figure your credit for alternative motor vehicles you placed in service during your tax year. Currently, Toyota leads the industry in this technology, achieving the highest power output while dramatically reducing the system’s price and size from its previous fuel cell vehicles. The tax credit is first-come, first-served, and is limited to one vehicle per individual and 10 vehicles per business entity. This is a vehicle propelled by power derived from one or more cells that convert chemical energy directly into electricity by combining oxygen with hydrogen fuel, and that meets certain additional requirements. The stack generates power by combining hydrogen with oxygen from the outside air.