Saw this article. I'm not sure how the 7500 phases out but Toyota reached the cap so it'll be joining GM and Tesla. EV and plug in cars wobt receive the tax credit anymore.
according to this website:
"The federal tax credit is phased out over time beginning the second quarter AFTER the quarter in which a manufacturer reaches a total of 200,000 BEV or PHEV vehicles sold since 2010. Here is how the phase out works:
The full amount of the EV qualifying tax credit is in place DURING the entire calendar quarter in which 200,000 EVs are sold by a manufacturer, AND through the subsequent quarter.
Then the tax credit amount is reduced by 50% for the next 2 quarters.
The credit is reduced again to 25% of the original amount for the subsequent 2 quarters.
At that point the credit expires completely."
so it looks like your RAV4 prime full tax credit should be good for Q3, and possibly Q4, if they were smart in timing their 200,000th EV to Q3.
