The maximum credit per qualifying commercial vehicle acquired between January 1, 2023, and December 31, 2032, under the Credit for Qualified Commercial Clean Vehicles is $7,500.
This $7,500, as a tax credit is designed to incentivize the acquisition of environmentally friendly commercial vehicles. The credit amount is determined based on the vehicle's weight class and its ability to operate using certain clean energy technologies.
In this specific case, vehicles weighing under 14,000 pounds are eligible. Taxpayers can claim this credit on their 2023 tax return if they meet the qualifying criteria.
So, this contributes to both environmental sustainability and financial benefits for businesses investing in cleaner transportation options.