Electric Vehicle (EV) and Fuel Cell Electric Vehicle (FCEV) Tax Credit

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Beginning July 1, 2023, qualified EV and FCEV purchasers may apply for an excise tax credit of up to $3,000. The tax credit is first-come, first-served, and is limited to one vehicle per individual and 10 vehicles per business entity. Qualified vehicles must meet the following criteria:

  • Have a total purchase price not exceeding $50,000;
  • Be propelled to a significant extent by an electric motor that draws electricity from a battery with a capacity of at least 4 kilowatt-hours;
  • Have not been modified from original manufacturer specifications; and
  • Be purchased and titled for the first time between July 1, 2023, and July 1, 2027.

Additional restrictions apply.

(Reference Maryland Statutes, Transportation Code 13-815 and House Bill 1391, 2022)