What is the current assessment of the likelihood of Tesla vehicles again qualifying for the the $7,500 US federal government tax credit or possibly $10,000 if including made in America provision? What purchase/pickup date would one have to have to qualify for the credit? I've seen various thoughts on whether that would be retroactive to late May, the date the legislation passes, or not until January 1, 2022. Assuming it could go into effect in July/August (passing this summer) why would anyone be purchasing a car now unless literally have nothing else to drive, his or her tax liability won't require the credit, certain it will take months to get the car with the increased demand the credit will drive, and/or Tesla will generally raise the price to offset much/all of the credit? I am currently in the 8 - 12 week window (placed M3 order at end of May) and want the car now but can't imagine my frustration if I had waited a couple of weeks/month and would have had a massive tax benefit.
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2021 EV Tax Credit
- Thread starter DLK1974VA
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EVer Hopeful
Active Member
<showing off>
IIRC it was done by quarters and the quarter in which the manufacturer hit 200,000 was allowed to complete with the $7,500 tax credit, then the following quarter was also allowed to complete the the $7,500 tax credit, then the in following quarter it was reduced by 50% to $3,750 and in the subsequent quarter it was reduced by half again to $1,875. After that it was no longer available for that manufacturer.
200,000 was the only units sold threshold, all the others were time related
</showing off>
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Pretty close, but the 50% and 25% tax credits were available for 6 months each, following the an extra quarter that received the full $7500 after 200,000 sales were made.
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EVer Hopeful
Active Member
Doh! - well I was close
I have a better idea for stimulating EV sales
Instead of the government just giving $7,500, either as a tax credit or a check, they could add a $750 charge as an anti-incentive to a dinosaur burner, collect the money and simply redistribute it to EV purchasers
I have a better idea for stimulating EV sales
Instead of the government just giving $7,500, either as a tax credit or a check, they could add a $750 charge as an anti-incentive to a dinosaur burner, collect the money and simply redistribute it to EV purchasers
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MontyFloyd
Member
That is much to simple and functional of an ideal, it will never be accepted.Doh! - well I was close
I have a better idea for stimulating EV sales
Instead of the government just giving $7,500, either as a tax credit or a check, they could add a $750 charge as an anti-incentive to a dinosaur burner, collect the money and simply redistribute it to EV purchasers
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Section d1 states that the rebate is reduced by $200 for every $1000 of income over the threshold amount.
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Small update, the scoring of the bill by CBO that was expected week of Nov 15th is not likely to be completed. My hope for this thing ever seeing the light of day is dwindling. I think once I get back from Thanksgiving vacation, going to release my hold and get my car.
Source: CBO’s Schedule for Releasing a Cost Estimate for H.R. 5376, the Build Back Better Act
Source: CBO’s Schedule for Releasing a Cost Estimate for H.R. 5376, the Build Back Better Act
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t.e.s.l.a_dude
Member
I agree, this is just uphill and it may go well into 2022. I will be still holding until December 31, but the chances getting slimmer and slimmer.
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coalesce99
Member
The Build Back Better bill - if it passes, when does the 200,000 removal go into effect? I haven't heard - and looking at reports of the bill, it looks like a lot of things go into effect in 2027???
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simdank
Member
So my question is:
The Total Cost of Vehicle for my MYLR with FSD is $70,924.84. I believe the proposed tax benefit cutoff for Build Back Better is $69,000 for SUVs purchased after January 1, 2022. So... am I in the clear? Or am I over the limit here? It's unclear since the Car Price is $66,290.00 before Additional Charges (Registration Amount, GA Lemon Law Fee and Sales Tax).
Just spoke with my salesperson and I am told if I remove FSD, I do not lose my place in line but I lose the price I locked in in August and have to lock in the current price of MYLR which is about 3K more.
Please let me know if you have any insights. Thanks!
The Total Cost of Vehicle for my MYLR with FSD is $70,924.84. I believe the proposed tax benefit cutoff for Build Back Better is $69,000 for SUVs purchased after January 1, 2022. So... am I in the clear? Or am I over the limit here? It's unclear since the Car Price is $66,290.00 before Additional Charges (Registration Amount, GA Lemon Law Fee and Sales Tax).
Just spoke with my salesperson and I am told if I remove FSD, I do not lose my place in line but I lose the price I locked in in August and have to lock in the current price of MYLR which is about 3K more.
Please let me know if you have any insights. Thanks!
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