BMW Models Eligible for the Clean Vehicle Tax Credit

January 19th, 2023 by

With the recent changes to the Clean Vehicle Credit, there were changes affecting which vehicles are eligible to receive the EV tax credit. These changes impacted many manufacturers, including BMW. Which BMW Models are eligible for the EV tax credit? The 2021, 2022, and 2023 BMW 330e are eligible to receive the EV tax credit, as well as the 2021, 2022, and 2023 BMW X5 xDrive45e. The BMW 330e meets the applicable MSRP limit of $55,000 or less. The BMW X5 xDrive45e also meets the applicable MSRP limit of $80,000 or less.

If you purchase a BMW 330e or BMW X5 xDrive45e and meet certain income restrictions, you may be eligible for a clean vehicle tax credit up to $7,500 under Internal Revenue Code Section 30D. Continue reading to learn more about the restrictions for receiving the EV tax credit on the BMW 330e and the BMW X5 xDrive45e.

ADJUSTED GROSS INCOME LIMITS NEW CLEAN VEHICLES

  • $300,000:  Married, filing jointly, or as a surviving spouse / qualifying widow(er)
  • $225,000:  Head of household
  • $150,000:  All other taxpayers

 

2023 BMW 330e

2023 BMW 330e

 

2023 BMW X5 xDrive43e

2023 BMW X5 xDrive43e

HOW DO I GET A TAX CREDIT AFTER PURCHASING AN EV?

When you purchase a BMW 330e or BMW X5 xDrive45e from Bill Jacobs BMW, our dealership will walk you through the process and help you determine your eligibility for a tax credit. This official document is important because you will need it to apply for the Clean Vehicle Credit.

TAKE ADVANTAGE OF THE EV TAX CREDIT AT BILL JACOBS BMW

As the #1 volume BMW dealership in the entire Midwest, we have access to hundreds of BMW models to choose from, especially hybrid and electric. If you’re curious about going electric or wondering if you qualify for the $7,500 tax credit, stop by our dealership located at 2495 Aurora Avenue in Naperville to learn more. Our team of BMW EV experts is here to answer any questions you may have. If you’re interested in exploring other electric BMW models like the BMW i4, BMW iX, and BMW i7, Bill Jacobs is your destination for electric BMW models.

LEASE A BMW IX OR I4 AND GET $7,500 IN EV CREDITS

Did you know that if you lease a new BMW iX or i4 from Bill Jacobs BMW, you may qualify for an additional $7,500 in EV credits? This lease credit is applicable for BMW i4 eDrive35 or BMW iX xDrive50 models. Visit our dealership to learn more about the eligible electric BMW iX and i4 models.

Posted in BMW Electric, BMW News