Does the EV tax credit apply to the final vehicle price when taking delivery?

[stlgrym3]

Just took advantage of the price drop and ordered a Y long range with only tow hitch as added option to stay below $55000 threshold. Is the new EV tax credit front loaded? Meaning you get that $7500 off from the final vehicle price?

 

[Need]

No. You claim it in your Federal Tax filing. It reduces your tax liability by $7500.

 

[Mayo]

Plus you must have a Federal Tax liability up to $7,500 in order to take the full benifits. This requirement is only for this year . Jan 2025 will be a time of sale discount.