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Internal Revenue Code (IRC) Motor Vehicles Electric Vehicles

Jones Day

New Guidance on the Commercial EV Tax Credit

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In one of their final sets of guidance under President Biden, the Department of Treasury and the IRS released proposed regulations for the tax credit under Section 45W, which is available for purchasing electric vehicles for...more

Mayer Brown

US Treasury Issues Proposed Regulations on Section 30D Clean Vehicle Credit

Mayer Brown on

Electric vehicle and electric battery manufacturers and critical mineral producers will want to take note of a notice of proposed rulemaking (NPRM) on Section 30D of the Internal Revenue Code of 1986, as amended, released by...more

Mayer Brown

IRS Guidance on Electric Vehicles

Mayer Brown on

IRS and Treasury today issued Revenue Procedure 2022-42, which includes procedures for manufacturers of electric vehicles...more

Mayer Brown

Tax Credits for Electric Vehicles: What’s Changed with the US IRA?

Mayer Brown on

President Biden signed the Inflation Reduction Act of 2022 (the “IRA”) into law on August 16, 2022. Among other things, the IRA expands the federal income tax credits available to promote the development and use of renewable...more

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