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Here’s the Cost To Own an Electric Vehicle in Every State

April 23, 2024

7 min Read

Written by Chris Adam

Edited by Rebekah Evans

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What’s been seen in recent years as a “trendy” move among car owners, now seems to be facing the fate of other trends – losing popularity. According to Gallup, 7% of Americans now say they own an electric vehicle. That’s up from 4% a year ago, but the increase is matched by an equal decline in the percentage who say they are definitely considering buying one, from 12% to 9%.

Many factors are driving EV ownership and interest in purchasing them, including income, age and politics. To help you better gauge the cost of an EV, GoBankingRates used data from Tax Foundation to outline the cost of owning an EV. For each state, you’ll see the EV purchase tax credit, additional EV annual registration fee, and additional hybrid annual registration fee, along with any additional key pieces of information.

Also see these eight electric cars to avoid purchasing.

Alabama

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $200
Additional Hybrid Annual Registration Fee: $100

Alaska

EV Purchase Tax Credit: $1,000
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Arizona

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Arkansas

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $200
Additional Hybrid Annual Registration Fee: $50-100 (There is a $50 fee for standard hybrid and $100 fee for plug-in hybrid)

California

EV Purchase Tax Credit: $750-7,500
Additional EV Annual Registration Fee: $108
Additional Hybrid Annual Registration Fee: $0

Today’s Top Offers

Colorado

EV Purchase Tax Credit: $5,000
Additional EV Annual Registration Fee: $51.88
Additional Hybrid Annual Registration Fee: $0

Connecticut

EV Purchase Tax Credit: $750-7,500
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Delaware

EV Purchase Tax Credit: $1,000-2,500 (offers a rebate, not credit)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Florida

EV Purchase Tax Credit: $0 (there are local credits and/or rebates)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Georgia

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $213.70
Additional Hybrid Annual Registration Fee: $0

Hawaii

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $50
Additional Hybrid Annual Registration Fee: $0

Idaho

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $140
Additional Hybrid Annual Registration Fee: $75

Illinois

EV Purchase Tax Credit: $4,000 (offers a rebate, not credit)
Additional EV Annual Registration Fee: $100
Additional Hybrid Annual Registration Fee: $0

Indiana

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $150
Additional Hybrid Annual Registration Fee: $50

Iowa

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $130
Additional Hybrid Annual Registration Fee: $0

Kansas

EV Purchase Tax Credit: Up to $2,400
Additional EV Annual Registration Fee: $60-70
Additional Hybrid Annual Registration Fee: $20-30

Today’s Top Offers

Kentucky

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $120
Additional Hybrid Annual Registration Fee: $60

Louisiana

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $100
Additional Hybrid Annual Registration Fee: $60 (For plug-in hybrid vehicles only)

Maine

EV Purchase Tax Credit: Up to $7,500 (varies by income level)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Maryland

EV Purchase Tax Credit: $3,000 (for purchase price under $50,000)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Massachusetts

EV Purchase Tax Credit: Up to $3,500
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Michigan

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $145
Additional Hybrid Annual Registration Fee: $52.50 (For plug-in hybrid vehicles only)

Minnesota

EV Purchase Tax Credit: $0 (The state offers an E-Zpass incentive [one-time credit of $250 for full electric and $125 for plug-in hybrids])
Additional EV Annual Registration Fee: $75
Additional Hybrid Annual Registration Fee: $0

Mississippi

EV Purchase Tax Credit: (There are local credits and/or rebates)
Additional EV Annual Registration Fee: $150
Additional Hybrid Annual Registration Fee: $75

Missouri

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $105
Additional Hybrid Annual Registration Fee: $52.50

Montana

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Nebraska

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $75
Additional Hybrid Annual Registration Fee: $0

Nevada

EV Purchase Tax Credit: $0 (There are local credits and/or rebates)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Today’s Top Offers

New Hampshire

EV Purchase Tax Credit: $0 (There are local credits and/or rebates)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

New Jersey

EV Purchase Tax Credit: Up to $4,000 (Offers a rebate, not credit. The EV purchase is exempt from sales tax; the rebate is $25 per mile of EPA-rated all-electric range up to $4,000)
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

New Mexico

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

New York

EV Purchase Tax Credit: Up to $2,000
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

North Carolina

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $140.25
Additional Hybrid Annual Registration Fee: $38.75

North Dakota

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $120
Additional Hybrid Annual Registration Fee: $50

Ohio

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $200
Additional Hybrid Annual Registration Fee: $200

Oklahoma

EV Purchase Tax Credit: Up to $5,500
Additional EV Annual Registration Fee: $110
Additional Hybrid Annual Registration Fee: $82

Oregon

EV Purchase Tax Credit: Up to $5,000 (Offers a rebate, not credit. Varies by income level)
Additional EV Annual Registration Fee: $76-91
Additional Hybrid Annual Registration Fee: $0

Pennsylvania

EV Purchase Tax Credit: Up to $3,000
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Today’s Top Offers

Rhode Island

EV Purchase Tax Credit: Up to $2,500
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

South Carolina

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $60 (Biennial supplemental license fees of $120 and $60, respectively)
Additional Hybrid Annual Registration Fee: $30 (Biennial supplemental license fees of $120 and $60, respectively)

South Dakota

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $50
Additional Hybrid Annual Registration Fee: $0

Tennessee

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $100
Additional Hybrid Annual Registration Fee: $0

Texas

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Utah

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $130.25 (Instead of the EV fee, users can pay a road usage fee of 1 cent per mile driven)
Additional Hybrid Annual Registration Fee: $56.50 (Instead of the EV fee, users can pay a road usage fee of 1 cent per mile driven)

Vermont

EV Purchase Tax Credit: Up to $4,000
Additional EV Annual Registration Fee: $0
Additional Hybrid Annual Registration Fee: $0

Virginia

EV Purchase Tax Credit: $2,500
Additional EV Annual Registration Fee: $120 (Fee is a function of the average number of passenger vehicle miles driven in the state)
Additional Hybrid Annual Registration Fee: $0

Washington

EV Purchase Tax Credit: $0 (Purchase is exempt from sales tax)
Additional EV Annual Registration Fee: $150
Additional Hybrid Annual Registration Fee: $75

West Virginia

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $200
Additional Hybrid Annual Registration Fee: $100

Wisconsin

EV Purchase Tax Credit: $0
Additional EV Annual Registration Fee: $100
Additional Hybrid Annual Registration Fee: $75 (For plug-in hybrid vehicles only)

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