N-2023-1: Certain Definitions of Terms in Section 30D Clean Vehicle Credit

Notice 2023-1 informs taxpayers that the Department of the Treasury and the Internal Revenue Service (IRS) intend to propose regulations addressing the definitions of certain terms in respect of the credit available under section 30D of the Code, and lays out the expected content of those regulations. The proposed regulations will include definitions of the following terms, which are relevant for new clean vehicles placed in service after December 31, 2022:

Final Assembly;
North America;
Manufacturer?s Suggested Retail Price;
Classifications for categories of vehicles, including vans, sport utility vehicles, pickup trucks, and other vehicles; and
Placed in service.

Notice 2023-9 will be in IRB:?2023-3, dated January 17, 2023.

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