How Do Electric Car Tax Credits Work in Massachusetts?
Are you a proud or soon-to-be owner of an electric vehicle in Massachusetts? If so, be sure to hurry in before the federal Clean Vehicle Tax Credit comes to an end. At Mastria Nissan in Raynham, we're here to tell you everything you need to know about EV tax credits in MA and at the federal level.
Potential lessees and buyers who want to understand how to claim electric car tax credits can visit our Nissan dealer near Taunton to learn more.
Is the Federal EV Tax Credit Going Away?
Yes -- the federal Clean Vehicle Tax Credit is set to expire on September 30, 2025. If you’re hoping to claim these substantial tax benefits, it’s important to buy your eligible electric vehicle before the deadline. This applies to both new and used EVs purchased for personal or commercial use under the federal program.
Do EVs Qualify for the New Auto Loan Interest Deduction?
Yes, from now through December 31, 2028, car buyers can take advantage of a new Auto Loan Interest Deduction. This incentive allows you to deduct up to $10,000 in annual interest paid on loans for eligible new personal-use vehicles -- including EVs, hybrids, and internal combustion engine models -- as long as the vehicle’s final assembly took place in the United States.1
With the upcoming end of the Clean Vehicle Tax Credit, this deduction offers a valuable way for EV shoppers to maximize their savings.
How Do I Get My Electric Vehicle Tax Credit?
While the federal EV tax credit is expiring, you still may be able to claim electric car tax incentives at the state level. To claim the Massachusetts EV tax credit, apply for the MOR-EV program online and follow the steps. For more information about MA electric car tax incentives and what vehicles qualify, contact a tax accountant or meet with a specialist at our local EV center.
Am I Eligible for the EV Tax Incentive in Massachusetts?
The state of Massachusetts offers EV tax rebates through MOR-EV. With rebates between $3,500 and $6,000 on eligible EV purchases or leases,1 qualified drivers can benefit from significant savings thanks to this state-run program.
Can I Get a Federal EV Tax Credit on a Used Car?
If you purchase an electric vehicle before September 30, 2025, you may be eligible to claim federal EV tax savings. While this credit doesn't apply to new Nissan vehicles, you may be able to save on the purchase of a used electric vehicle by claiming up to $4,000 in tax credits.1 Browse our used EVs for sale in Raynham to see if your favorite option qualifies.
New Nissan EVs Near Me
For additional information about EV tax credits, reach out to Mastria Nissan. We're here to ensure your electric car ownership experience is full of benefits and financial advantages that'll leave you happy. Upgrade to a new LEAF or ARIYA in Raynham and embrace a clean driving experience with your Nissan EV!
Read More: How Do EVs Work? | Nissan EV FAQs
1 Information listed here is accurate at time of publishing. Tax credits are subject to change. See dealer for details.
