Tax Credit for Plug-In Electric Drive Vehicles Acquired on or before Dec. 31, 2009 Q. What does “acquired” mean? A. To qualify, the vehicle must be acquired on or before Dec. 31, 2009, under the laws of the state in which the vehicle was purchased. Generally, under state law, a binding contract to purchase a vehicle by itself does not count as acquiring a vehicle. For a taxpayer to have acquired the vehicle, he or she must have title to it under state law. Q. Is there a limit to how many times a taxpayer may claim the credit? A. The credit is available for each qualifying vehicle purchased, regardless of the number. However, since the credit is nonrefundable, it is only available if a taxpayer has a tax liability. Unused credits cannot be carried to previous or future tax years.