The Inflation Reduction Act has further incentivized the production and purchasing of hybrid or electric vehicles.

As the regulations have come out, some may be surprised to learn the $7500 credit all over TV is a bit misleading.  The Anomaly Tax team has reviewed the regs and has determined the cleanest (no pun intended) way to get the full benefits is to qualify the vehicle for >50% business use!
 

Here are some helpful tips to keep in mind:

Commercial Credit:

• No income limit or restriction
• Must be used PRIMARILY for business purposes
• MUST MUST MUST be purchased in the company's name WITH the company EIN. If this does not happen, you will not get the credit. The IRS tracks this.
• You will be eligible for bonus depreciation on the purchase price less the credit amount

Individual Credit:

• Various income-level phase-outs
• Strict manufacturing requirements in the US
• No depreciation

Check out the chart below for the vehicles that qualify!