Chevy Electric Vehicle Tax Credits In Michigan
One of the best parts about switching to a new Chevy EV is the special savings that come along with it. When you purchase an eligible vehicle at Mike Savoie Chevrolet, you may be able to claim federal electric car tax credits to help you save big. All-electric and plug-in hybrid cars purchased new in or after 2010 may qualify for a federal credit of up to $7,500, so reach out to the team at Mike Savoie to learn more.
How Do I Get My EV Tax Credit?
You will be able to claim up to $7,500 in credit against the federal income taxes you owe once you file for the year. You can only claim the EV tax credit during the year in which you purchased the vehicle. If you’re also eligible for a tax refund, you’ll receive both the refund and tax credit.
Does Michigan Have Electric Car Incentives?
Michigan does not have tax credits or other incentives for the purchase of a new EV at the state level, but residents can take advantage of federal tax credits.
Which Chevy Models Qualify for Federal EV Tax Credits?
You can claim federal electric car tax credits on several new Chevy models, including the Bolt EV, Bolt EUV, Equinox EV, Blazer EV and Silverado EV . The models and their tax credits are as follows:
All-electric, plug-in hybrid, and fuel cell electric vehicles purchased new in 2023 or after may be eligible for a federal income tax credit of up to $7,500.
The availability of the credit will depend on several factors, including the vehicle's MSRP, its final assembly location, battery component and/or critical minerals sourcing, and your modified adjusted gross income (AGI).
Qualified vehicles purchased before 2023 may be eligible for a similar tax credit of up to $7,500.
Pre-owned vehicles purchased in 2023 or after are eligible for a tax credit of up to $4,000.
Mike Savoie Chevrolet
1900 W Maple Rd, Troy, MI 48084
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