New Jersey Has No Sales Tax On the Volvo XC40 REcharge


New Jersey Has No Sales Tax On the Volvo XC40 REcharge

It Pays To Live In NJ

Question: How can you buy a new car and pay no sales tax?

Answer: Live in New Jersey and buy an all ELECTRIC car like the VOLVO XC40 RECHARGE all electric SUV.

Zero Emission Vehicles
ZEVs sold, rented, or leased in New Jersey are exempt from state sales and use tax. This exemption does not apply to partial ZEVs, including hybrid electric vehicles. ZEVs are defined as vehicles that meet California Air Resources Board zero emission standards for that model year. For a list of qualified ZEV, see the New Jersey Department of the Treasury ZEV Sales Tax Exemption website. (Reference New Jersey Statutes 54:32B-8.55)

Federal Tax Credit
All-electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local incentives may also apply. 

You can learn about Federal Tax Credits for New All-Electric and Plug-in Hybrid Vehicles
at this link. 



DISCLAIMER

See for information on state incentives. You are encouraged to visit your state program's website for the most up-to-date information on availability and redemption requirements for state incentives. State incentives are outside of the control of Volvo Cars and are for informational purposes only. These incentives are subject to change without notice. Please note that this is not tax advice. Volvo Cars encourages consulting with your tax, financial, or legal advisor for further details and to determine your eligibility for state incentives.


Keywords: Volvo Electric, Volvo XC40, XC40 Recharge P8, EV



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