Federal Tax

Kia Models Added to List of Vehicles Eligible for Electric Vehicle Tax Credit

The IRS has added two Kia models to the list of vehicles eligible for an electric vehicle tax credit. The tax code provides a federal credit of up to $7,500 to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles and light trucks. The credit phases out over 6 quarters beginning when a manufacturer has sold at least 200,000 qualifying vehicles for use in the U.S. (determined on a cumulative basis for sales after Dec. 31, 2009). The IRS added the following models to the list of eligible vehicles: 2021 Kia NIRO EV (the credit for this model is $7,500); 2021 Kia Niro Plug-in Hybrid (the credit amount is $4,543). Click here for more details. For questions, reach out to the Cg Team. © 2021