Will Rivian vehicles qualify for the federal tax rebate after the new battery requirements take effect on April 18, 2023?
Current model year 2023 R1T and R1S vehicles qualify for $3,750 in federal tax incentives, as the batteries are compliant with the critical mineral sourcing requirements passed in the Inflation Reduction Act. Buyers and configurations are subject to the following income and price restrictions.
Please note that this eligibility will be reevaluated for each future version of the R1T and R1S.
These income and price restrictions are as follows:
Income limits (adjusted gross income):
$150,000 - all other filers
$225,000 - Head of Household
$300,000 - Married, filing jointly
Vehicle purchase price (before taxes and fees):
R1T - $80,000
R1S - $80,000
Model Year 2023 buyers who meet these MSRP and income restrictions and take delivery on or before April 17, 2023 are likely to still qualify for the $7,500 credit. More information for tax professionals can be found on the IRS website.
Other buyers may have maintained eligibility for the full $7,500 tax credit regardless of MSRP and income restrictions if they signed the “binding order agreement” on or before August 15, 2022.
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