On February 3, 2023, the Department of the Treasury (Treasury) issued a Fact Sheet on the Previously-Owned Clean Vehicle credit program under Internal Revenue Code (IRC) section 25E, the Clean Vehicle credit program under IRC section 30D, and the Commercial Clean Vehicle credit program under IRC section 45W. The Fact Sheet discusses eligibility requirements, income and price limitations, and considerations about the application of new requirements.
Specific to the 30D credit, the document provides information about requirements for vehicles purchased after the passage of the IRA on August 16, 2022 and before December 29, 2022, a transition period with special requirements.
Specific to the 45W credit, the document provides information about the amount of the vehicle purchase price a taxpayer may claim, and considerations about whether vehicle leasing may qualify for the credit.
The February 3, 2023 fact sheet revises and supersedes a prior December 29, 2022 fact sheet.