How to apply a state tax rebate on electric cars?
I want to make use of government incentives to knock down the price of an EV before I buy one. How exactly do I apply a state tax rebate on an electric car?
Answer provided by
Incentives like tax rebates are a great way to reduce the cost of your EV. However, you can only apply a state tax rebate on an electric car when filing your yearly tax return.
If you live in a state that is offering a tax rebate, you’ll need to consider a few things before applying.
- Are you eligible?
- How much rebate is available for your make and model?
Unfortunately, the rebate does not happen at the time of purchase. When it comes time to file your tax return, the IRS has included a section that addresses the purchase of electric cars. With the help of an accountant or tax expert, you can apply your rebate.
Another way to save when buying an electric car is to make sure you’re not overspending on car insurance. The Jerry app is a great place to start. Jerry, a licensed broker, does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance.
And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price. This level of service is why Jerry earned a 4.6/5 rating on the App Store and made it the top insurance app in the country.
MORE: Low budget electric cars
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