Tesla Tax Benefit to Ratchet Down

Hoping to settle into a Tesla? Best move fast, if you want that tax credit. Because the company passed a threshold of 200,000 eligible vehicles sold, the tax subsidy for its cars will wind down as follows:

  • The full $7,500 tax credit will be available only until December 31, 2018.
  • For the first half of 2019, eligible vehicles will qualify for half that amount ($3,750).
  • For the second half of 2019, the figure is $1,825.
  • Teslas purchased after the end of 2019 will not qualify for the credit.