Volvo Electric Vehicle Tax Incentives Massachusetts

Frequently Asked Questions

How do I get the Federal EV Tax Credit for my Volvo Electric Vehicle?

Once you purchase a new and eligible electric vehicle like the Volvo XC40 Recharge from Volvo Cars Pioneer Valley, you will need to fill out IRS Form 8936 to claim your credit of up to $7,500.

What does up to $7,500 mean for the Federal EV Credit?

The qualified plug-in electric drive motor vehicle credit is a nonrefundable federal tax credit of up to $7,500. The credit will reduce your tax liability dollar for dollar. Meaning if the credit is more than your tax liability, you would only receive up to the amount of your tax liability. It's best to consult with a tax professional to see how the tax credit will apply to your specific financial matters and tax filing.

What other credits are available when you purchase an electric vehicle?

We've listed some state-level available credits above, but to see the full list of offers for each state, you can Check Here.

Are there any rebates or credits for used EVs?

At the moment, there are no federal tax credits when you purchase a used Electric Vehicle.

What Volvo vehicles qualify for the Federal Tax Credit?

Currently, the Volkswagen ID.4 qualifies for up to $7,500 Federal Tax Credit. We do have more electric vehicle concepts and expect to add more in the future.

[1] Government incentives are for informational purposes only. They are subject to change without notice, and do not constitute tax or legal advice. Government incentives are not within Toyota's control and all persons considering use of available incentives should consult with their own tax professional to determine eligibility, specific amount of benefit available, if any, and further details. State incentives are based on http://www.afdc.energy.gov/laws/state, and updated as of 9/9/16. All credits and rebates subject to approval by issuing entity. Please check with your local, state, or federal agency (IRS) and/or a tax professional for eligibility requirements. See form: https://www.irs.gov/pub/irs-pdf/f8936.pdf.

[2] This is an electric vehicle. Since electricity is not measured in gallons, a conversion factor is used to translate the fuel economy into miles per gallon of gasoline equivalent (MPGe). EPA-estimated 85 city/72 highway/ 79 combined MPGe. Use for comparison purposes only. Your MPGe will vary for many reasons, including but not limited to, driving conditions, how and where you drive, how you maintain your vehicle battery-package/condition, and other factors. For more information, including information on MPGe, see www.fueleconomy.gov.