Buying an electric vehicle could now come with a hefty tax credit. There are plenty of stipulations to keep in mind, however.

The Internal Revenue Service Clean Vehicle Tax Credit provides a $7,500 tax credit for qualified plug-in electric or fuel cell vehicles purchased and put into service on Jan. 1 or later. Among the manufacturers qualifying for the credit include vehicles made by Honda, Ford, General Motors, Hyundai, Kia, Nissan, Subaru, and Tesla. You can see a complete list of qualifying vehicles here.