{"id":9145,"date":"2024-02-06T14:33:05","date_gmt":"2024-02-06T19:33:05","guid":{"rendered":"https:\/\/bollingermotors.com\/?p=9145"},"modified":"2024-08-27T21:16:19","modified_gmt":"2024-08-28T01:16:19","slug":"irs-federal-tax-credit","status":"publish","type":"post","link":"https:\/\/bollingermotors.com\/irs-federal-tax-credit\/","title":{"rendered":"BOLLINGER MOTORS RECEIVES IRS APPROVAL FOR $40,000 COMMERCIAL EV FEDERAL TAX CREDIT"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9145\" class=\"elementor elementor-9145\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2a090277 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2a090277\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-267da026\" data-id=\"267da026\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-54c9f7b elementor-widget elementor-widget-text-editor\" data-id=\"54c9f7b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"margin: 0in;\">DETROIT. &nbsp;February 6, 2024 \u2013 <span style=\"letter-spacing: -.25pt;\">Bollinger <\/span><span style=\"letter-spacing: -.25pt;\">Motors<\/span><span style=\"color: black; letter-spacing: -.25pt;\">, Inc., an electric vehicle (\u201cEV\u201d) manufacturer, today announced it has received IRS approval as a \u201cqualified manufacturer\u201d for clean vehicle credits under the Inflation Reduction Act of 2022 (the \u201cIRA\u201d).&nbsp; This designation enables the <a href=\"https:\/\/bollingermotors.com\/trucks\/\"><u>Bollinger B4<\/u><\/a> chassis cab to qualify for the IRA\u2019s new <\/span><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hxL1xHdsa-9a9Q8Bl7rNVC9HgaurPKBT7GiaIA8LpjmIL0lMfqBCmZCs5KfQ7Jw_TwwCtotBk12xyfsqz8RnuC5_Fk0JmvLlB6Dms66i70kVRf3m8qoPha5sJQaqVG1goccey51AxPs_JgLAT1QfUq3CE2lstNr6b190oEbIQ2w=\"><span style=\"letter-spacing: -.25pt;\">credit for qualified commercial clean vehicles<\/span><\/a><span style=\"color: black; letter-spacing: -.25pt;\">, providing eligible purchasers a tax credit of up to $40,000 per vehicle.<\/span><\/p>\n<p style=\"margin: 0in;\"><span style=\"color: black; letter-spacing: -.25pt;\">&nbsp;<\/span><\/p>\n<p class=\"MsoNormal\">\u201cBollinger Motors is poised for growth and we\u2019re ready to help electrify America\u2019s fleets,\u201d said Robert Bollinger, founder and CEO of Bollinger Motors. \u201cThese tax credits are an important incentive for our customers to replace their gas and diesel trucks and lower their total cost of ownership.\u201d<\/p>\n<p style=\"margin: 0in; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"color: #1b1b1b;\">Businesses and tax-exempt organizations that buy a qualified commercial clean vehicle may qualify for a clean vehicle tax credit of up to $40,000 under Section 45W of the Internal Revenue Code (IRC).&nbsp;&nbsp;<\/span><\/p>\n<p style=\"margin: 0in; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"color: #1b1b1b;\">&nbsp;<\/span><\/p>\n<p style=\"margin: 0in; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"color: #1b1b1b;\">The credit equals the lesser of:<\/span><\/p>\n<ul style=\"margin-top: 0in;\" type=\"disc\">\n<li class=\"MsoNormal\" style=\"color: #1b1b1b; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"font-size: 14px;\">15% of the purchaser\u2019s basis in the vehicle&nbsp;<\/span>(30% if the vehicle is not powered by gas or diesel)<\/li>\n<li class=\"MsoNormal\" style=\"color: #1b1b1b; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\">The incremental cost of the vehicle versus a comparable vehicle with a gas or diesel engine<\/li>\n<\/ul>\n<p style=\"margin: 0in; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"color: black; mso-themecolor: text1;\">The Bollinger B4, with a GVWR of <span style=\"background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\">15,500 pounds, is expected to qualify for the full eligible tax credit of $40,000.<\/span><\/span><\/p>\n<p style=\"margin: 0in; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"color: black; mso-themecolor: text1;\"><span style=\"background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\">&nbsp;<\/span><\/span><\/p>\n<p class=\"MsoNormal\">Today\u2019s award followed a series of announcements in recent months, including partnerships with Our Next Energy in Novi, Mich. to supply batteries, and with Roush Industries in Livonia, Mich. to assemble Bollinger B4 trucks.<\/p>\n<p class=\"MsoNormal\">The company anticipates deliveries of the Bollinger B4 chassis cab to begin in the second half of 2024.<\/p>\n<p class=\"MsoNormal\"><u><span style=\"color: black; mso-themecolor: text1;\">ABOUT BOLLINGER MOTORS<\/span><\/u><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 12.0pt; font-family: 'Times New Roman',serif; mso-fareast-font-family: 'Times New Roman'; color: black; mso-themecolor: text1; mso-font-kerning: 0pt; mso-ligatures: none; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;\">Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Mich. Bollinger Motors is developing all-electric commercial chassis&nbsp;<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>DETROIT. &nbsp;February 6, 2024 \u2013 Bollinger Motors, Inc., an electric vehicle (\u201cEV\u201d) manufacturer, today announced it has received IRS approval as a \u201cqualified manufacturer\u201d for clean vehicle credits under the Inflation Reduction Act of 2022 (the \u201cIRA\u201d).&nbsp; This designation enables the Bollinger B4 chassis cab to qualify for the IRA\u2019s new credit for qualified commercial [&hellip;]<\/p>\n","protected":false},"author":1302,"featured_media":9045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[451,687],"tags":[],"class_list":["post-9145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial","category-environment","entry","has-media"],"yoast_head":"<!-- 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