Beginning January 1, 2024, EV buyers can transfer the federal EV clean vehicle tax credit to a qualified, participating dealer when purchasing, turning the credit into an immediate discount. At the time of sale, a seller must give you information about your vehicle's qualifications. Sellers must also register online and report the same EV purchase information to the IRS. If they don't, your vehicle won't be eligible for the credit. Here is a handy list of federal tax incentives to keep in mind:
Enroll now and receive up to $75 in incentives and help improve future programs for EV drivers.
All vehicles must be registered with the Illinois Department of Motor Vehicles. Since EV drivers no longer pay gasoline tax at the pump, Illinois requires an annual fee to support road maintenance. Listed below are the associated fees for securing an EV license plate as of December 2020: