The $7,500 federal tax credit for Tesla buyers may expire sooner than you think

August 11, 2017
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One of the financial benefits long afforded to EV buyers is that they can take advantage of a generous $7,500 federal income tax credit, a perk that Tesla owners have enjoyed for quite some time. An important caveat to the aforementioned tax credit is that it expires one quarter after a specific car manufacturer sells and delivers 200,000 EVs in the United States. Once that 200,000 threshold is met, the federal income tax credit for that manufacturer falls to $3,750 for a period of six months followed by a tax credit of $1,875 for the following six months.

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