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In today's evolving landscape of tax incentives aimed at promoting environmental sustainability, tax professionals play a pivotal role in guiding businesses towards opportunities that not only benefit their bottom line but also contribute to a greener future.
To be eligible, vehicles must be used for business purposes and fall under the category of commercial clean vehicles. This includes both electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) that are purchased for use in the United States. The weight class of these vehicles plays a crucial role in determining the credit amount, with a distinction made between vehicles under 14,000 pounds and those above this threshold.