IRS FS-2023-08 is very confusing, it mixes individual tax and commercial credits and makes things even harder to figure out. I bet the IRS itself will give you 2 different answers if you ask them.
After reading FS-2023-08 my CPA said "Yes, it looks to me the $80k cap applies. If you look at Topic B, Questions 1 and 2, it appears to me you and the other owners will not receive the credit because your AGI’s will be above $300k."
However I don't know if FS-2023-08 is correct because I don't want to claim it as a individual but has a company:
Q2. How do the income thresholds apply to my partnership’s purchase and use of a new clean vehicle? (added March 31, 2023)
A2. If a partnership or an S corporation places a new clean vehicle in service and the new clean vehicle credit is claimed by individuals who are direct or indirect partners of that partnership or shareholders of that S corporation, the modified AGI thresholds apply to those partners or shareholders.
Attached doc:
"The limits on the Commercial Clean Vehicle Credit under IRC Sec. 45W are much less stringent than the Clean Vehicle Credit for individuals under IRC Sec. 30D.
As discussed in our prior article, the credit for individuals has key requirements that could make it difficult to access. Taxpayers utilizing the commercial credit are not subject to the Modified Adjusted Gross Income (MAGI) limitations, vehicle MSRP pricing caps, the mineral and battery component requirements and the final assembly requirements as imposed under IRC 30D for individuals.
IRS guidance is still needed to determine the incremental cost threshold portion of the credit limitation; however, it appears that the credit will be much easier for taxpayers to claim at the business level. In addition, taxpayers will be able to claim a much larger credit ($40,000) for qualifying vehicles over 14,000 pounds, such as the Tesla Electric Semi-truck with an MSRP upwards of $150,000."
Either way I ordered a base MX in ultra red w/ black interior and will take the full 179 deduction. I'll tell my CPA to submit Form 8936 on the business name and if they give it to me they do, if they don't they don't.