Quote:
Originally Posted by ELGo
This is correct but people are often confused by tax liability Vs tax owed.
The EV non-refundable tax credit applies to the first $7500 of tax liability. If your liability is less than $7500, the tax credit will zero the amount.
Tax_owed = Tax_liability - tax_payed.
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Right, I'm retired so it's basically meaningless for me. If it wasn't I'd buy an EV tomorrow.
Rob