Maryland EV Tax Credits Begin July 1

The state of Maryland is once again offering a one-time excise tax credit of up to $3,000 for the purchase of qualifying zero-emission plug-in electric or fuel cell electric vehicles. The credit is available from July 1, 2023, to June 30, 2027, and applies to both vehicle owners and lessees. Business entities can also qualify for the tax credit on up to ten vehicles. The credit is subject to available funding and cannot exceed $3,000. Additional information on how to qualify for the tax credit and vehicle criteria is available at the MVA website here.

The MVA is creating emergency regulations to define “base price” as it’s not a defined term in the Maryland Transportation Article. Our friends at MADA have consulted with MVA and expect the “base price” to be the base price as reflected on the Monroney Label. The base price is not the MSRP. As soon as the final regulations are adopted, we will distribute a final explanation of the tax credit.

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