How Do Electric Car Tax Credits Work in Massachusetts?
There are so many great reasons to opt for an all-electric GMC for sale in Massachusetts. In addition to a reduced carbon footprint, there are exclusive opportunities to save when you buy a new EV. So, when you drive by the fuel pump, you can enjoy savings for miles and miles. Have questions about EV tax credits? Visit our GMC dealership near New Bedford and our finance team will explain Massachusetts EV tax credits as well as federal electric vehicle tax incentives. Are you ready to transform your time behind the wheel with zero emissions? Visit Mastria Motors today to get started!
If you bought an all-electric vehicle or plug-in hybrid in Massachusetts, you may be eligible for a state tax incentive as well as a federal tax credit. While the GMC vehicles aren't currently eligible for the federal new vehicle EV tax credit, you may still be able to save with the Massachusetts MOR-EV program or the used EV tax incentive when buying pre-owned.
How Do I Get My Electric Vehicle Tax Credit?
When you file your taxes, you'll have the chance to claim up to $7,500 in federal tax credit if the vehicle is eligible, but you can only claim this incentive during the year in which you bought your EV or plug-in hybrid. If you're eligible, you'll receive your tax credit with your refund.
Am I Eligible for an Electric Car State Tax Incentive in Massachusetts?
Massachusetts residents buying or leasing an electric vehicle may secure state tax incentives through the MOR-EV program, which offers rebates between $3,500 and $6,000.1
For details on federal EV tax credit requirements, consult with one of the auto financing professionals at Mastria GMC.
Can I Get a Federal Electric Car Tax Credit on a Used Car?
Eligible pre-owned vehicles may qualify for a federal tax credit of up to $4,000.1 Browse used EVs for sale in Raynham to see if your favorite option qualifies for tax incentives.
Can I Get a Federal Tax Credit If I Lease an EV?
Are you considering leasing an EV? The good news is that Massachusetts offers state tax credits on eligible EV leases. On the other hand, federal tax credits only apply to purchased vehicles.