Florida EV Tax Credits

When you invest in an electric vehicle, you are investing in a more eco-friendly driving experience and a more sustainable future. In addition to these benefits, you’ll also eliminate or minimize your trips to the gas pumps of Miami, Doral, and beyond, while enjoying the fewer maintenance needs—and expenses—that come with EVs. But is there an EV tax credit in Florida that can help you save even more? While there are no state-level Florida EV tax credits, there are potential savings opportunities available, thanks to local and federal programs. Doral Hyundai has all the details below, answering the question, “Does Florida have an electric vehicle tax credit?”

Is There an EV Tax Credit in Florida?

So, does Florida have an electric vehicle tax credit? As mentioned above, there is no Florida EV tax credit available at the state level. With that said, Florida Power & Light offers a program called FPL EVolution® Home, which aims to make EV ownership more affordable through residential charger discounts. FPL EVolution® Home will permit, install, and maintain a Level 2 charger in your home, with unlimited night, weekend, and holiday charging and no upfront fees. To learn more or to see if you qualify, visit the Florida Power & Light website.

Also, if you plan on purchasing solar panels to charge your home and EV, be sure to explore possible discounts. For instance, in Florida, home solar system installation is exempt from sales tax. What’s more, your home will also be exempt from property tax increases resulting from the increase in the assessed value of your home due to the solar installation.

Are There Federal EV Tax Credits?

Yes! While there may be no Florida EV tax credits, you can still take advantage of federal-level credits. However, the vehicle you’re buying must:

• Be made by a qualified manufacturer
• Have a battery capacity of at least seven kilowatt hours
• Have a gross vehicle weight rating of less than 14,000 pounds
• Have a sale price of no more than $80,000 for vans, sport utility vehicles, and pickups and $55,000 for other vehicles
• Meet critical mineral and battery component requirements
• Undergo final assembly in North America

Buyers also must meet certain guidelines by not exceeding the income levels listed below:

• $300,000 for married couples filing jointly or a surviving spouse
• $225,000 for heads of households
• $150,000 for all other filers

If you and the EV you’re considering satisfy these requirements, you can claim federal tax credits of up to $7,500. The deduction is usually taken at the point of sale for instant savings.

Test-Drive Your Next EV in Doral

Is there an EV tax credit in Florida? Does Florida have an electric vehicle tax credit? Now that you can answer these questions, it’s time to start shopping for your next EV. Check out our options like the IONIQ 6 and the Kona Electric, then contact us or stop by the showroom so we can set you up with a test drive; we’re just a short distance from Hialeah. Come see why Hyundai is an undisputed leader in the electric vehicle market!