commentary/question
------------------------------
Is the provision in this bill for *pure* electric vehicles like the
Tesla
or does it also includes Plugin Hybrids Electric Vehicles?
I found the following details of the
2008 Wall street bailout tax credits for
plug-in electric vehicles
for the actual text and details goto
http://www.taxpayer.net/user_uploads/file/FederalBudget/senatebailout ...
on page 190
see
Section 205
credit for new qualified plug-in electric drive motor vehicle.
A new qualified plug-in electric drive motor vehicle
gets a tax credit of $,500 plus $17 for each kilowatt hour
of traction battery capacity that is in execess of 4 kilowatt hours.
The maximum tax credit is base on the electric vehicle
weight class:
---------------------------------------------------------------
EV_weight max_tax_credit
---------------------------------------------------------------
____0-10,000 pounds 7,500.00
10,001-14,000 pounds 10,000.00
14,001-26,000 pounds 12,500.00
_____>26,000 pounds 15,000.00
--------------------------------------------------------------
To be eligible for the full tax credit
the vehicle must be purchased after December 31, 2008
(that is it must be purchase in 2009 or later)
and be sold before the first calendar quarter
quarter inwhich the total number of new
qualified plug-in electric drive motor
vehicles sold for use in the USA has
reached atleast 250,000 vehicles. After
the 250,000th qualifying electric vehicle is sold
this tax break is phased out. During the
phase out period following 2nd calendar quarter
provides only 50% of the full tax credit
and the 3rd and 4th following calendar
quarters will provide only 25% of thetaxcredit.
After the 4th calendar quarter there is
no tax credit and the program is terminated.
Qualifying EV with a gross weight of no
more than 8,500 pounds must be certified
to conform to the Clean Air Act and meet
or Exceed Califnoria's lo emission standards.
...........
drydem wrote:
> commentary/question
> ------------------------------
> Is the provision in this bill for *pure* electric vehicles like the
> Tesla
> or does it also includes Plugin Hybrids Electric Vehicles?
>
>
>
>
> I found the following details of the
> 2008 Wall street bailout tax credits for
> plug-in electric vehicles
>
> for the actual text and details goto
> http://www.taxpayer.net/user_uploads/file/FederalBudget/senatebailout ...
>
> on page 190
> see
>
> Section 205
> credit for new qualified plug-in electric drive motor vehicle.
>
> A new qualified plug-in electric drive motor vehicle
> gets a tax credit of $,500 plus $17 for each kilowatt hour
> of traction battery capacity that is in execess of 4 kilowatt hours.
> The maximum tax credit is base on the electric vehicle
> weight class:
>
>
> ---------------------------------------------------------------
> EV_weight max_tax_credit
> ---------------------------------------------------------------
> ____0-10,000 pounds 7,500.00
> 10,001-14,000 pounds 10,000.00
> 14,001-26,000 pounds 12,500.00
> _____>26,000 pounds 15,000.00
> --------------------------------------------------------------
>
>
> To be eligible for the full tax credit
> the vehicle must be purchased after December 31, 2008
> (that is it must be purchase in 2009 or later)
> and be sold before the first calendar quarter
> quarter inwhich the total number of new
> qualified plug-in electric drive motor
> vehicles sold for use in the USA has
> reached atleast 250,000 vehicles. After
> the 250,000th qualifying electric vehicle is sold
> this tax break is phased out. During the
> phase out period following 2nd calendar quarter
> provides only 50% of the full tax credit
> and the 3rd and 4th following calendar
> quarters will provide only 25% of thetaxcredit.
> After the 4th calendar quarter there is
> no tax credit and the program is terminated.
> Qualifying EV with a gross weight of no
> more than 8,500 pounds must be certified
> to conform to the Clean Air Act and meet
> or Exceed Califnoria's lo emission standards.
>
>
> ...........
>
If in doubt, claim it. The IRS will let you know sooner or later if
they allow it, and the state after that if the IRS didn't.
I'm no lawyer, no Tax Consultant. But I do know this, the Prius aint no
"A new qualified plug-in electric drive motor vehicle"
I don't plug in my Prius and neither do you.
> I'm no lawyer, no Tax Consultant. But I do know this, the Prius aint no
> "A new qualified plug-in electric drive motor vehicle"
> I don't plug in my Prius and neither do you.
The operative word here seems to be "new" which would exclude the retrofit
plug-in Prius. Is this corporate welfare?
Was Istoben wrote:
>
>
>> I'm no lawyer, no Tax Consultant. But I do know this, the Prius aint no
>> "A new qualified plug-in electric drive motor vehicle"
>> I don't plug in my Prius and neither do you.
>
>
> The operative word here seems to be "new" which would exclude the
> retrofit plug-in Prius. Is this corporate welfare?
A jump-start for the Volt, perhaps?
> ------------------------------
> Is the provision in this bill for *pure* electric vehicles like the
> Tesla
> or does it also includes Plugin Hybrids Electric Vehicles?
>
>
>
>
> I found the following details of the
> 2008 Wall street bailout tax credits for
> plug-in electric vehicles
>
> for the actual text and details goto
> http://www.taxpayer.net/user_uploads/file/FederalBudget/senatebailout ...
>
> on page 190
> see
>
> Section 205
> credit for new qualified plug-in electric drive motor vehicle.
>
> A new qualified plug-in electric drive motor vehicle
> gets a tax credit of $,500 plus $17 for each kilowatt hour
> of traction battery capacity that is in execess of 4 kilowatt hours.
> The maximum tax credit is base on the electric vehicle
> weight class:
>
>
> ---------------------------------------------------------------
> EV_weight max_tax_credit
> ---------------------------------------------------------------
> ____0-10,000 pounds 7,500.00
> 10,001-14,000 pounds 10,000.00
> 14,001-26,000 pounds 12,500.00
> _____>26,000 pounds 15,000.00
> --------------------------------------------------------------
>
>
> To be eligible for the full tax credit
> the vehicle must be purchased after December 31, 2008
> (that is it must be purchase in 2009 or later)
> and be sold before the first calendar quarter
> quarter inwhich the total number of new
> qualified plug-in electric drive motor
> vehicles sold for use in the USA has
> reached atleast 250,000 vehicles. After
> the 250,000th qualifying electric vehicle is sold
> this tax break is phased out. During the
> phase out period following 2nd calendar quarter
> provides only 50% of the full tax credit
> and the 3rd and 4th following calendar
> quarters will provide only 25% of thetaxcredit.
> After the 4th calendar quarter there is
> no tax credit and the program is terminated.
> Qualifying EV with a gross weight of no
> more than 8,500 pounds must be certified
> to conform to the Clean Air Act and meet
> or Exceed Califnoria's lo emission standards.
>
>
> ...........
>