$150k. New Income Limits to Qualify for EV Tax Credit.

Dr_B

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Page 395 of the new law sets income limits on who can qualify for the EV tax credit.

(b) LIMITATION BASED ON MODIFIED ADJUSTED
GROSS INCOME.—
‘‘(1) IN GENERAL.—No credit shall be allowed
under subsection (a) for any taxable year if— ‘‘(A) the lesser of—
‘‘(i) the modified adjusted gross income of the taxpayer for such taxable year, or
‘‘(ii) the modified adjusted gross in- come of the taxpayer for the preceding tax- able year, exceeds
‘‘(B) the threshold amount.
395
‘‘(2)
paragraph (1)(B), the threshold amount shall be—
THRESHOLD AMOUNT.—For purposes of
‘‘(A) in the case of a joint return or a sur- viving spouse (as defined in section 2(a)), $150,000,
‘‘(B) in the case of a head of household (as defined in section 2(b)), $112,500, and
‘‘(C) in the case of a taxpayer not described in subparagraph (A) or (B), $75,000.
 
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