EV and PHEV Federal Tax Credit

WHAT
• Federal tax credit is offered for EV or PHEV acquisition
• Federal tax credit is separate from state or other rebates, such as the California Clean Vehicle Program (CVRP) $1,500 PHEV rebate or $2,500 EV rebate (visit
https://cleanvehiclerebate.org/eng for more information on CVRP)

HOW MUCH IS THE FEDERAL TAX CREDIT?
Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks.  

For vehicles acquired after December 31, 2009, the credit is equal to $2,500 plus, 
for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, 
$417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. 
The total amount of the credit allowed for a vehicle is limited to $7,500.

2018 Outlander PHEV    $5836



HOW IT WORKS
If vehicle is leased:
• If the vehicle is leased through Mitsubishi Motor Credit, tax credit is automatically rolled into the customer's monthly payment
• Monthly lease payment reflects the tax credit
• No further work needed by customer or dealer
• If the vehicle is not leased through Mitsubishi Motor, dealer should contact its respective financial institution about how this tax credit is processed

If vehicle is purchased:
• Customer must directly apply for the tax credit from the IRS
• www.irs.gov/pub/irs-pdf/f8936.pdf
• IRS form 8936 is below

Click on the PDF to download the form.

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