Will the 2024 Honda Prologue qualify for tax credits?
The 2024 Honda Prologue, an upcoming all-electric SUV, may qualify for federal tax credits, but the details are still to be determined. The Prologue is part of Honda's push to electrify its lineup, and the availability of tax incentives could make it a more attractive option for eco-conscious consumers.
What is the 2024 Honda Prologue?
The Honda Prologue is an all-new, all-electric SUV that is scheduled to launch in 2024. It is the first of several electric vehicles (EVs) that Honda plans to introduce as part of its goal to achieve 100% zero-emission vehicle sales in North America by 2040. The Prologue is being developed in collaboration with General Motors, which will provide the underlying platform and battery technology.
Potential Tax Credits for the Honda Prologue
The availability of federal tax credits for the 2024 Honda Prologue is still to be determined, as the details of the vehicle's specifications and pricing have not been finalized. However, based on the current federal tax credit program for EVs, the Prologue may be eligible for up to $7,500 in tax credits, provided it meets the necessary requirements.
To qualify for the full $7,500 tax credit, the Prologue would need to have a battery capacity of at least 40 kWh and be assembled in North America. Additionally, the vehicle's manufacturer's suggested retail price (MSRP) must be below certain thresholds, which are currently set at $55,000 for SUVs and $80,000 for other vehicle types.
Factors That May Affect Tax Credit Eligibility
Several factors could impact the Prologue's eligibility for federal tax credits, including:
- Battery Capacity: The Prologue's battery capacity must be at least 40 kWh to qualify for the full $7,500 credit.
- Assembly Location: The vehicle must be assembled in North America to be eligible for the tax credit.
- MSRP: The Prologue's MSRP must be below the $55,000 threshold for SUVs to qualify for the full credit.
- Availability of Tax Credits: The federal tax credit program for EVs is subject to change, and the availability of credits may be impacted by factors such as the number of vehicles sold and the overall budget for the program.
It's important to note that the details of the Prologue's specifications and pricing, as well as the ongoing changes to federal tax credit policies, may affect the final determination of the vehicle's eligibility for tax credits.
How much is the Honda Prologue 2024?
2024 Honda Prologue Review. The 2024 Honda Prologue is an all-new, all-electric midsize SUV with a range of up to 296 miles. Pricing starts at $48,795. The Prologue is the first all-electric SUV to come from Honda, spearheading the company's intention to offer 30 electric vehicles by 2030.
What is the dependent tax credit for 2024?
The Young Child Tax Credit (YCTC) provides up to $1,154 per eligible tax return for tax year 2024. YCTC may provide you with cash back or reduce any tax you owe. California families qualify with earned income of $31,950 or less.
What is the tax credit for 2024?
You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,644 for tax year 2024 as a working family or individual earning up to $30,950 per year. You must claim the credit on the 2024 FTB 3514 form, California Earned Income Tax Credit, or if you e-file follow your software's instructions.
Is the Honda Prologue selling well?
Honda Prologue was the third best-selling EV in Nov
The electric SUV trailed only Tesla's Model Y and Model 3 in sales. With a record 6,823 Prologue models sold last month, Honda has now sold over 25,000 electric SUVs in the US this year. That's a big difference from not selling a single EV in the US last year.
How many miles will the Honda Prologue get?
296 miles
Honda Prologue EV Range
The entry-level Honda Prologue EX gets an EPA-estimated range of 296 miles with the front-wheel-drive setup1 and an EPA-estimated 281 miles with the all-wheel-drive powertrain.
Is the 2024 Honda Prologue eligible for tax credit?
The 2024 Honda Prologue is one of only seven all-electric SUVs currently eligible for the $7,500 federal tax credit! This is an incredible opportunity for environmentally conscious drivers to save big, whether you choose to purchase or lease this innovative SUV.
What is the tax credit for Honda Hybrid 2024?
Yes, the 2024 Honda Prologue does qualify for the federal tax credit of $7,500. The Honda EV tax credit applies to eligible lessees of the 2024 Honda Prologue and eligible buyers of 2024 Honda Prologue models built after February 26, 2024. As a bonus, Honda offers a package with up to $750 of public charging credits.
How many kWh is a Honda Prologue?
85.0-kWh
Every new Honda Prologue has a lithium-ion battery with an 85.0-kWh capacity. This is comparable to electric vehicles (EVs) from other manufacturers. There are different powertrain options, however, based on how many motors are in the car – and which trim you select.
What Honda vehicles qualify for EV tax credit?
Honda announced today that most all-new 2024 Honda Prologue models, the first all-electric Honda SUV, will qualify for the U.S. $7,500 EV tax credit. The federal tax credit applies to the purchase of all 2024 Prologues built after Feb.
Does my hybrid car qualify for tax credit?
Federal tax credits are available for the purchase of all-electric and plug-in hybrid vehicles. The tax credits are up to $7,500. Please note: Sales or use tax is due on the total selling price of the vehicle.
