Form IT-637 Alternative Fuels and Electric Vehicle Recharging Property Credit Tax Year 2024-2025

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For consumers who purchase and qualified alternative fuel vehicle refueling property for their principal residence, including electric vehicle charging equipment, between December 31, 2022, and January 1, 2033, the tax credit equals 30% of the cost with a maximum amount of $1,000 per item (for each charging
As of March 2025, the following fully electric and plug-in hybrid vehicles may be eligible for either a full or partial tax credit if delivered on or after Jan. 1, 2025. $7,500. $80,000.
People who buy new electric vehicles may be eligible for a tax credit of up to $7,500, and used electric car buyers may qualify for up to $4,000. Consumers can either choose to claim the credit on their taxes or opt to transfer the credit to an eligible dealer for an immediate discount on the vehicle at purchase.
Customers who take delivery of a qualified new Tesla vehicle and meet all federal requirements are eligible for a tax credit up to $7,500, which can be deducted from the purchase price at time of delivery for eligible cash or financing purchases through Tesla.
Vehicles that meet the critical mineral requirements are eligible for a $3,750 tax credit, and vehicles that meet the battery component requirements are eligible for a $3,750 tax credit. Vehicles meeting both the critical mineral and the battery component requirements are eligible for a total tax credit of $7,500.

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Tax credits up to $7,500 are available for eligible new electric vehicles and up to $4,000 for eligible used electric vehicles. You can work with your dealership to process the vehicle tax credit. Tax credits are available for home chargers and associated energy storage, each up to $1,000.
The term typically refers to internal combustion engine vehicles or fuel cell vehicles that utilize synthetic renewable fuels such as biofuels (ethanol fuel, biodiesel and biogasoline), hydrogen fuel or so-called Electrofuel.
You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,644 for tax year 2024 as a working family or individual earning up to $31,950 per year. You must claim the credit on the 2024 FTB 3514 form, California Earned Income Tax Credit, or if you e-file follow your softwares instructions.

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