NY EV Tax Credit and Incentive Savings Calculator

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NY EV Tax Credit and Incentive Savings Calculator

Estimate your total savings from federal and New York State EV tax credits, rebates, and incentives when purchasing or leasing an electric vehicle in New York.

Vehicle Type

New Battery Electric Vehicle (BEV) New Plug-In Hybrid (PHEV) Used Battery Electric Vehicle (BEV) Used Plug-In Hybrid (PHEV)

Vehicle Purchase Price ($)

Battery Capacity (kWh)

Used to calculate NY Drive Clean Rebate. Check your vehicle specs.

Your Adjusted Gross Income (AGI) ($)

Used to determine federal credit eligibility. Single filers: ≤$150K; Head of household: ≤$225K; Joint filers: ≤$300K (new); ≤$75K/$112.5K/$150K (used).

Federal Tax Filing Status

Single Head of Household Married Filing Jointly

Estimated Federal Tax Liability ($)

The federal credit is non-refundable (new vehicles). It cannot exceed your tax liability. Used vehicle credit is also non-refundable.

Are you a low- or moderate-income household?

No Yes (income ≤ 80% Area Median Income)

Qualifying households may receive additional NY incentives (e.g., NYSERDA EV rebate bonus).

Are you a LIPA or Con Edison customer?

Neither / Other Utility Con Edison LIPA (Long Island Power Authority)

Some NY utilities offer additional EV rebates.

Home Charger (EVSE) Installation Cost ($) (optional)

Federal 30C tax credit covers 30% of EVSE cost (up to $1,000 for individuals). NY may offer additional utility rebates.

Calculate My Savings

function nyUpdateFields() { // Could show/hide fields based on vehicle type in future iterations }

function nyCalc() { // --- Gather Inputs --- var vehicleType = document.getElementById('ny-vehicle-type').value; var price = parseFloat(document.getElementById('ny-vehicle-price').value); var batteryKwh = parseFloat(document.getElementById('ny-battery-kwh').value); var agi = parseFloat(document.getElementById('ny-agi').value); var filingStatus = document.getElementById('ny-filing-status').value; var federalTax = parseFloat(document.getElementById('ny-federal-tax').value); var lsev = document.getElementById('ny-lsev').value; var utility = document.getElementById('ny-utility').value; var chargerCost = parseFloat(document.getElementById('ny-charger-cost').value) || 0;

var errors = [];

if (isNaN(price) || price 0) { resultDiv.innerHTML = 'Please fix the following:' + errors.map(function(e){ return ''; }).join('') + ''; return; }

var isNew = vehicleType === 'new_bev' || vehicleType === 'new_phev'; var isBEV = vehicleType === 'new_bev' || vehicleType === 'used_bev'; var isPHEV = vehicleType === 'new_phev' || vehicleType === 'used_phev';

// ------------------------------------------------------- // 1. FEDERAL TAX CREDIT (IRA 2022, IRC §30D new / §25E used) // ------------------------------------------------------- var federalCredit = 0; var federalCreditNote = "";

// AGI Limits var agiLimitNew = { single: 150000, hoh: 225000, joint: 300000 }; var agiLimitUsed = { single: 75000, hoh: 112500, joint: 150000 };

if (isNew) { // MSRP caps: Vans/SUVs/pickups ≤ $80,000; other vehicles ≤ $55,000 // Using a simplified check — user enters price; we note the cap var msrpCapNew = 80000; // conservative; user should verify category var agiOkNew = agi msrpCapNew) { federalCreditNote = "Vehicle price exceeds $80,000 MSRP cap. Federal credit may not apply. Verify vehicle category."; federalCredit = 0; } else { // New BEV: up to $7,500; PHEV: $3,750 if battery ≥ 7 kWh, $7,500 if ≥ certain threshold // IRA splits credit: $3,750 for critical minerals + $3,750 for battery components // Simplified: BEV assumed full $7,500; PHEV with ≥7 kWh gets $3,750 if (isBEV) { federalCredit = 7500; } else { // PHEV: $3,750 if battery ≥ 7 kWh (simplified) federalCredit = batteryKwh >= 7 ? 3750 : 0; if (batteryKwh 25000) { federalCreditNote = "Used vehicle price exceeds $25,000 cap. Federal used EV credit does not apply."; federalCredit = 0; } else { federalCredit = Math.min(price * 0.30, 4000); federalCredit = Math.min(federalCredit, federalTax); if (federalCredit nyMsrpCap) { nyDriveCleanNote = "Vehicle price exceeds NY Drive Clean Rebate MSRP cap of $42,000. Rebate: $0."; } else { if (isBEV) { if (batteryKwh >= 40) { nyDriveCleanRebate = 2000; } else if (batteryKwh >= 10) { nyDriveCleanRebate = 500; } else { nyDriveCleanNote = "Battery too small for NY Drive Clean Rebate."; } } else { // PHEV if (batteryKwh >= 10) { nyDriveCleanRebate = 500; } else { nyDriveCleanNote = "PHEV battery 0) { nyLsevBonus = 500; }

// ------------------------------------------------------- // 3. UTILITY REBATES (approximate, subject to change) // Con Edison: up to $500 for EV purchase + up to $500 for Level 2 charger // LIPA: up to $400 for EV purchase // ------------------------------------------------------- var utilityRebate = 0; var utilityNote = ""; if (utility === 'coned') { utilityRebate = isBEV ? 500 : 250; utilityNote = "Con Edison EV rebate (approximate). Verify current amounts at coned.com."; } else if (utility === 'lipa') { utilityRebate = isBEV ? 400 : 200; utilityNote = "LIPA EV rebate (approximate). Verify current amounts at liparesearch.com."; }

// ------------------------------------------------------- // 4. HOME CHARGER (EVSE) FEDERAL 30C TAX CREDIT // 30% of cost, max $1,000 for individuals (residential) // Non-refundable; simplified — not capped against tax here // ------------------------------------------------------- var evseCredit = 0; var evseNote = ""; if (chargerCost > 0) { evseCredit = Math.min(chargerCost * 0.30, 1000); evseNote = "Federal 30C EVSE credit: 30% of $" + chargerCost.toLocaleString() + " = $" + evseCredit.toFixed(2) + " (max $1,000)."; }

// Utility charger rebate (Con Edison offers up to $500 for Level 2 charger) var utilityChargerRebate = 0; if (chargerCost > 0 && utility === 'coned') { utilityChargerRebate = Math.min(chargerCost * 0.50, 500); utilityNote += " Con Edison also offers up to $500 for Level 2 charger installation."; }

// ------------------------------------------------------- // 5. TOTAL SAVINGS // ------------------------------------------------------- var totalSavings = federalCredit + nyDriveCleanRebate + nyLsevBonus + utilityRebate + evseCredit + utilityChargerRebate; var effectivePrice = price - totalSavings;

// ------------------------------------------------------- // Build Result HTML // ------------------------------------------------------- var html = '### Your Estimated EV Savings '; html += ''; html += 'IncentiveAmount'; html += 'Federal EV Tax Credit (IRC §30D / §25E)$' + federalCredit.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; html += 'NY Drive Clean Rebate (NYSERDA)$' + nyDriveCleanRebate.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; if (nyLsevBonus > 0) { html += 'NY Low/Moderate Income Bonus$' + nyLsevBonus.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; } if (utilityRebate > 0) { html += 'Utility EV Rebate$' + utilityRebate.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; } if (evseCredit > 0) { html += 'Federal 30C Home Charger Credit$' + evseCredit.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; } if (utilityChargerRebate > 0) { html += 'Utility Charger Rebate$' + utilityChargerRebate.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; } html += 'Total Estimated Savings$' + totalSavings.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; html += 'Vehicle Price After Incentives$' + Math.max(effectivePrice,0).toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2}) + ''; html += '';

// Notes var notes = []; if (federalCreditNote) notes.push(federalCreditNote); if (nyDriveCleanNote) notes.push(nyDriveCleanNote); if (utilityNote) notes.push(utilityNote); if (evseNote) notes.push(evseNote);

if (notes.length > 0) { html += 'Notes:' + notes.map(function(n){ return ''; }).join('') + ''; }

html += 'This is an estimate only. Actual credits depend on vehicle eligibility, manufacturer compliance with IRA sourcing rules, your final tax return, and current program availability. Consult a tax professional and verify with NYSERDA and your utility.

';

resultDiv.innerHTML = html; }

#### Formulas Used

Federal New EV Credit (IRC §30D): BEV: min($7,500, Federal Tax Liability) — if AGI ≤ limit and MSRP ≤ $80,000 PHEV (battery ≥ 7 kWh): min($3,750, Federal Tax Liability) AGI limits: Single ≤ $150K | Head of Household ≤ $225K | Joint ≤ $300K

Federal Used EV Credit (IRC §25E): min(Sale Price × 30%, $4,000, Federal Tax Liability) — if AGI ≤ limit and price ≤ $25,000 AGI limits: Single ≤ $75K | HoH ≤ $112.5K | Joint ≤ $150K

NY Drive Clean Rebate (NYSERDA): BEV (battery ≥ 40 kWh): $2,000 | BEV (10–39 kWh): $500 PHEV (battery ≥ 10 kWh): $500 Applies to new vehicles with MSRP ≤ $42,000

Low/Moderate Income Bonus: +$500 if income ≤ 80% AMI and Drive Clean Rebate applies

Federal 30C EVSE Credit: min(Charger Cost × 30%, $1,000)

Total Savings: Federal Credit + NY Drive Clean Rebate + LMI Bonus + Utility Rebate + EVSE Credit + Utility Charger Rebate

Effective Vehicle Price: Purchase Price − Total Savings

#### Assumptions & References

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References

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