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$5000 rebate for NJ Electric Vehicle signed into law

Discussion in 'Mid-Atlantic' started by Rachmaninov, Jan 17, 2020.

  1. mattyj

    mattyj Member

    Joined:
    May 28, 2020
    Messages:
    5
    Location:
    New Jersey
    Has anyone gotten their check or a note that its on the way yet? Mine said it could take up to 30 days and that was 32 days ago.
     
  2. BUSMAN

    BUSMAN Member

    Joined:
    Jan 3, 2020
    Messages:
    40
    Location:
    NJ
    Got mine today ,from the notification letter it's been well over 30 days.
     
  3. scubastevo80

    scubastevo80 Member

    Joined:
    May 7, 2019
    Messages:
    279
    Location:
    New Jersey
    My father received his rebate check yesterday. I believe it was about a month from submission date so hopefully this helps level set for others curious about timing.
     
  4. mattyj

    mattyj Member

    Joined:
    May 28, 2020
    Messages:
    5
    Location:
    New Jersey
    I recieved mine this weekend so overall about 40 days to recieve
     
  5. Shabal

    Shabal New Member

    Joined:
    Sep 15, 2020
    Messages:
    1
    Location:
    Hoboken, NJ
    Does anyone know about tax filing implications? Couldn't find any info - is this 5k check taxable income or it's tax free? Just curious what's the real value 5k or 5k minus federal and/or state tax?
     
  6. BUSMAN

    BUSMAN Member

    Joined:
    Jan 3, 2020
    Messages:
    40
    Location:
    NJ
    For those that have gotten rebate ,where in order process does it show up?
     
  7. kaysid

    kaysid Member

    Joined:
    Sep 14, 2020
    Messages:
    6
    Location:
    NJ
    Hi, just resurrecting this thread, I picked up my Model Y end of September and then applied for the rebate. I just got an email on Friday saying my application was incomplete. They did not like the purchase/lease agreement document for some reason. I uploaded the whole signed document that I got from my SA, which included NJ title and registration. The only other document I can find is on my Tesla Account there is a lease purchase agreement (4 pages) but this does not have my physical signature but an electronic one. Not sure if this is what they are looking for? What did others upload for the purchase/lease agreement, wondering if mine is somehow incomplete.
    Thanks
    Kay
     
  8. kaysid

    kaysid Member

    Joined:
    Sep 14, 2020
    Messages:
    6
    Location:
    NJ
    Was able to get this resolved, they are looking specifically for the signed lease agreement in my case as wall as the vehicle configuration pricing sheet, All good now.
     
    • Informative x 1
    • Like x 1
  9. DaveG_NJ

    DaveG_NJ Member

    Joined:
    Oct 7, 2020
    Messages:
    201
    Location:
    NJ
    I'm still waiting for mine. It's a rebate on your purchase, so not taxable. I guess if you wrote off your car as a business expense, you'd be obligated to offset the cost by the rebate. Also, they never asked for SSN on the rebate form - just driver's license, so I don't know how the IRS would know that you got it.
     
  10. TTinNJ

    TTinNJ Member

    Joined:
    Jan 3, 2020
    Messages:
    21
    Location:
    Princeton, NJ
    Yes, as Dave said, it's not taxable income, just a rebate. As he also mentioned, if you're using the vehicle as a business expense, you would have to reduce the purchase price by the amount of the rebate before calculating depreciation.
     
  11. berkowitzbt

    berkowitzbt Member

    Joined:
    Jan 17, 2020
    Messages:
    29
    Location:
    New Jersey
    I applied Sept. 6, was approved Sept. 30 and was told 30 days to get a check. Still no check today (Nov. 9), so I wrote to follow up. To their credit, they emailed right back. And I quote:

    Thank you for your email. I apologize for the delays. We were initially informed that it would be 30 days from the time of approval pending delays. We have experienced COVID related delays beyond our normal processing times. You will receive an email when the check is mailed.

    So, no ETA, but not missing in the wind either.
     
    • Informative x 1
  12. berkowitzbt

    berkowitzbt Member

    Joined:
    Jan 17, 2020
    Messages:
    29
    Location:
    New Jersey
    Well, a month later, still no check and no update ... it's now 70 days since I got approved, and 40 days since the check became late. Anyone else manage to get their rebate in the last few weeks?
     
  13. DaveG_NJ

    DaveG_NJ Member

    Joined:
    Oct 7, 2020
    Messages:
    201
    Location:
    NJ
    I applied the day I took delivery (October) and it took about 5 weeks to get approved. That was 3 weeks ago, so I'm still within the 30 day best-case timeline for the check issuance. I expect it will go much longer based on their guidance: "We typically issue checks within 30 days of application approval. You will receive an email once your check has been placed in the mail. Delays beyond normal processing times may occur."
     
  14. berkowitzbt

    berkowitzbt Member

    Joined:
    Jan 17, 2020
    Messages:
    29
    Location:
    New Jersey
    Guess I spoke too soon - I just got an email 5 minutes ago saying the check was in the mail!

    So that's 94 days from applying and 70 days from getting approved to a check being sent.
     
    • Like x 1
  15. cg2006

    cg2006 Member

    Joined:
    Nov 27, 2020
    Messages:
    10
    Location:
    NJ
    Picking up my '21 Model 3 in a week. Just want to confirm, Tesla does not deduct the $5000 rebate from the invoice at time of sale, correct?
     
  16. skgolf91

    skgolf91 Member

    Joined:
    Nov 21, 2019
    Messages:
    159
    Location:
    NJ
    No, you will have to submit all the paperwork and apply on the website. Next phase, whenever it comes, is when they will take $5000 right away.
     
  17. lensovet

    lensovet Member

    Joined:
    Sep 23, 2018
    Messages:
    269
    Location:
    NJ
    …but if he’s picking up next week, sounds like he missed the boat on getting it?
     
  18. bwbrs

    bwbrs Member

    Joined:
    Sep 9, 2020
    Messages:
    19
    Location:
    NJ
    Hey all,

    I picked up my car on Tuesday 12/15 and started the application online. I got an email saying my funds were reserved and to finish the application by submitting the following:

    • A complete copy of your executed and signed vehicle lease or purchase agreement. Please include all pages and sections, with your signature and date of purchase or lease visible. Note: Your signature may be on the reverse side of your agreement.
    Is this the 'Loan Agreement' in my glovebox online? Since I took express delivery, I did not get any copies of paperwork when I picked up the car.

    Thanks!
     

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