Illinois Enacts Tax Incentives To Attract Electric Vehicle Manufacturing – Tax

United States:

Illinois is introducing tax incentives to encourage electric vehicle manufacturing

December 09, 2021

Mayer Braun

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In November 2021, Illinois Governor JB Pritzker signed the Reimagining Electric Vehicles Act, which introduces the Reimagining Electric Vehicles in Illinois Program to incentivize the production of electric vehicles in the state. This Mayer Brown Legal Update discusses the criteria for participating in the program and the associated tax credits, exemptions, and deductions.

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This article by Mayer Brown contains information and commentary on legal issues and developments of interest. The foregoing does not constitute a comprehensive treatment of the subject under discussion and is not intended as legal advice. Readers should seek specific legal advice prior to taking any action in relation to the matters discussed here.

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