Electric Vehicles

Nevadans can qualify for significant federal tax credits under the IRA, drastically reducing the cost of owning an electric vehicle:

• Up to $7,500 for a new electric vehicle
• Up to $4,000 for a used electric vehicle 
• Up to $1,000 for purchasing and installing a home EV charger 

A study shows electric vehicles can save Nevada drivers up to $27,900 compared to gas-powered cars over 10 years, making EVs a smart financial choice.

The EV tax credit is available to Nevada residents who:

• Purchase an eligible new or used electric vehicle.
• Meet federal income guidelines:
  • For new vehicles: Income limits are $150,000 for single filers, $225,000 for heads of household, and $300,000 for married couples filing jointly.
  • For used vehicles: Income limits are $75,000 for single filers, $112,500 for heads of household, and $150,000 for married couples filing jointly.

If you live in a rural or low-income area, you may qualify for the EV charger tax credit. If the Census Bureau considers your community rural or low-income, you are eligible. Use the 30C Tax Credit Eligibility Locator to determine if your community qualifies.

New and used EVs must meet requirements outlined by the IRS to qualify for the tax incentive. Always confirm eligibility with your dealer before purchasing a new EV. Dealers are legally required to provide information about vehicle eligibility. 

See which EVs qualify

If you’re actively shopping for a new EV, take this federal EV tax credit checklist with you. You can also verify eligibility using the US Department of Energy’s Alternative Fuels Data Center.

New EVs must meet the following criteria:

• Battery capacity of at least 7 kilowatt hours
• Rechargeable using an external source of electricity
• Weigh less than 14,000 pounds
• Made by a qualified manufacturer
• Final assembly must occur in North America
• Must meet battery and critical minerals sourcing requirements for full eligibility:
  • $3,750 if meeting only critical minerals requirements
  • $3,750 if meeting only battery components requirements
  • $7,500 if meeting both requirements
• More information on qualifications can be found here. 

Used EVs must meet the following criteria:

• Sale price of $25,000 or less before additional fees
• Purchased from a registered dealer (private sales do not qualify)
• Model year at least two years older than the current calendar year
• Weigh less than 14,000 pounds
• Battery capacity of at least 7 kilowatt hours
• Primarily for use in the United States
• Not previously resold after August 16, 2022
• Made by a qualified manufacturer

More frequently asked questions about EV qualifications can be found here. 

Popular EV manufacturers offering qualifying models include Tesla, Ford, Chevrolet, Nissan, Hyundai, and Volkswagen, providing plenty of options to fit your needs. Find a list of all-electric and plug-in hybrid vehicles here. 

If you determine you are in an eligible census tract for the EV charger tax credit, make sure the equipment you want is new (the original use begins with you), placed in service during he tax year, and installed in your primary residence. See this EV charger checklist. There are different EV charger options available. See this EV Charging 101 sheet for basic information on EV chargers.

Since January 1, 2024, the new EV tax credit and the used EV tax credit are available instantly at the time of sale. 

When purchasing your EV, confirm with your dealer that you meet the requirements for the federal tax credit. If eligible, let your dealer know you want to use the 30D (new EV) or 25E (used EV) tax credit to either lower the vehicle’s purchase price or receive cash back, based on your dealership’s available options.

After the sale, your dealer will electronically submit the necessary information, including a time-of-sale report, and provide you with written confirmation of your EV’s eligibility and the amount of your credit. You must still file a federal tax return and include the Vehicle Identification Number (VIN) using IRS Form 8936.

When it comes to using the 30C EV charger tax credit, make sure you’ve verified your eligibility through the tax credit locator. Then, you can purchase and install your EV charger at your primary residence. Make sure you keep all documentation, including receipts verifying your EV charger purchase and any associated labor costs for installation. Lastly, you will submit IRS Form 8911 and file it with your income tax return for the year in which your EV charger was purchased.