拜登总统的8月16日th 签署《bet9平台游戏》, a $739 billion tax, climate, healthcare, and energy law, is changing the landscape for Americans interested in buying an electric vehicle (EV).
The law replaces a previous EV tax break with a new set of credits called the Clean Vehicle Credits, which are dependent upon where the vehicle is assembled and where key vehicle components are manufactured
1月1日起投入使用的电动汽车, 2023, the IRA extends the $7,500美元的税收抵免，为期10年，截止到12月31日, 2032. The exact amount of the credit will be based on a calculation that considers factors such as the vehicle’s sourcing and assembly.
Additionally, used 电动汽车最终将获得一项单独的税收抵免. To qualify, the used EV must be at least two years old and not being purchased for resale. The eligible credit will be the lesser of $4,000 or 30% of the used EV price.
其他一些值得注意的变化包括:
那么2022年剩下的时间呢?
The IRA includes a “transition rule” by which any customer who entered into a “written binding contract for purchase” of a new EV before August 16, 2022年(法律生效之日), may choose to take the old tax credit and conform to the old rules, even if the vehicle is delivered after the January 1, 2023. Customer reservations are not explicitly covered in the bill’s language, 但是5%的定金和签订的合同是.
For any consumer that enters an EV sales contract between August 16, 2022 and December 31, 2022, the credit eligibility is subject to the new North America assembly requirements, but the old 200,000 sold EV cap.
Once a manufacturer hits the 200,000-vehicle sold cap, the credit drops to 50% and eventually zero. Today General Motors and Tesla have reached the manufacturer cap and are not currently eligible for the Clean Vehicle Credit through December 31, 2022.
That means if you want to buy a new Chevy Bolt today, a US made EV, it will not qualify for the Clean Vehicle Credit. 但如果你等到1月1日, 2023, those old 200,2000辆限行规定将会消失, and you can once again qualify for the EV tax credit.
So now that you have the new Clean Vehicle Tax Credit background and you’re in the market for a new EV since August 16th; here are 4 steps to help determine your eligibility and maximize your credit.
1. Your income matters
既然你已经找到了完美的EV, the last hurdle to obtain the Clean Vehicle credit is an income cap. Beginning January 1, 2023, tax filers are eligible for the credit if their income is less than $150,000, 户主低于225美元,000 and joint taxpayers if their combined income is less than $300,000.
2. 电动汽车组装必须在北美
截止到今天(这个名单还会继续增长), there are 30+ Clean Vehicles assembled in North America which can be found here 在能源部的网站上. If the EV is not listed, the assembly location can also be determined by typing in the VIN at the bottom of the website.
3. The 200,000-vehicle sales cap expires December 31, 2022
Some manufacturers that assemble vehicles in North America but have sold 200,000 units will be eligible for a reduced credit or no credit at all. 这些电动汽车也可以看到在 Department of Energy’s website. The IRS has a list of qualified vehicles and credit amounts here sorted by manufacturer for EVs purchased and delivered before December 31, 2022. The 200,000-vehicle sales cap will be removed beginning January 1, 2023.
4. The EV final purchase price matters beginning January 1, 2023
New battery electric cars that cost more than $55,000 do not qualify for the Clean Vehicle tax credit. New electric SUVS, vans and pickup trucks that cost more than $80,000 are ineligible. And no, there is not inflation adjustment for future years and final vehicle price matters (so all add-on packages impact eligibility).
Complicated enough?
There is an important nugget on page 366 of the IRA that adds battery component requirements beginning January 1, 2024 that is already giving auto manufacturers headaches.
Under the new rules, EVs with battery components sourced from “foreign entities of concern,” like China (where most battery parts and minerals come from), will no longer qualify for the tax credit if they are placed in service after January 1, 2024. If the battery only contains minerals from these countries and no other parts, the vehicle will become ineligible beginning January 1, 2025.
1月1日前上市的电动汽车, 2024 must exceed 40% battery components assembled in North America threshold. EVs that come to market during 2024 must exceed 50%. And it goes up from there:
Let’s break this down. It’s 2024 and you’re buying an EV that is assembled in North America. If 41% of its battery components are assembled in the region as wellyou have met half of the EV tax credit criteria and will be eligible for $3,750.
Let’s review the raw materials criteria for the other half of the credit.
电池材料从何而来?
就像电池组件组装一样, the law tackles the problematic issue of where the raw materials used in the battery come from.
After 2024, any vehicle with “critical minerals” that were extracted, processed, 或者在“外国实体关注”中回收,” will not qualify for the other half of the EV tax credit, so $3,750.
That same year, the law has a percentage requirement for where these critical minerals come from. In short, a certain percentage of critical minerals must be extracted or processed in countries with which the U.S. has a free trade agreement.
The percentage requirement can also be met if they have been recycled in North America. That recycling part is going to become even more important as these percentages increase, and perhaps big business for startup battery recycling companies.
百分比要求:
The law has a long list of critical minerals including lithium, graphite, cobalt, nickel, and manganese.
Final food for thought
According to the 汽车创新联盟, there are currently 72 EV models available for purchase in the US.
Of these models, only 22 qualify under the new Clean Vehicle tax credit rules. By 2029, when the additional sourcing restrictions go into effect, 现在没有电动汽车有资格享受全额补贴. As you can imagine, the pressure will continue to mount for automakers to curb reliance on “foreign entities of concern” and pave a path forward to a battery powered future.
Schneider Downs Automotive Services Group will continue to monitor guidance relative to the new Clean Vehicle Tax Credit. Detailed guidance on the credit is expected to be issued before year-end. In the meantime, feel free to reach out to any of our Schneider Downs Auto Advisors at [email protected] for accounting, tax, technology, and business advisory needs.
The Schneider Downs Automotive industry group serves dealers of all sizes, 从单一地点到大型经销商. Our members cross departments and meet regularly to ensure efficiencies in the services provided to our clients and discuss issues, regulations and trends affecting the automotive industry.
To learn more, visit our Automotive Industry Group page.
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