What is the zero emission vehicle tax credit?
• This is a credit of the lesser of 20% of the cost of the vehicle or $5,000 on the purchase or lease of a new zero-emission vehicle. There is also a credit for the conversion of a standard vehicle to a zero-emission vehicle which is equal to 10% of the cost of conversion, not to exceed $2,500 per converted vehicle. Refer to the instruction booklet (IT-511) for additional information.